Excerpt from...

Confidence high among muni investors

By Chip Barnett & Christine Albano - The Bond Buyer
July 16, 2020

In the week ended July 15, muni tax-exempt mutual funds saw $857.321 million of inflows, according to Refinitiv Lipper, marking the 10th straight week investors put cash into the funds.

Primary market
In the backdrop of a typical summer day, new issues did well despite being fairly aggressively priced on Thursday, according to John Mousseau, president and chief executive officer of Cumberland Advisors.

The New York New Jersey Port Authority and New York Urban Development Corp. deals were a case in point — though he expected the deals to get done.

“You have definitely entered the second half of the year with the market favoring issuers over investors,” Mousseau said Thursday afternoon.

That means plenty of supply coming — both from traditional issuers, but also those more pandemically affected as those yields have declined with the market, according to Mousseau.

“We will have some opportunities as issuers will no doubt be like shoppers all going through the revolving doors,” Mousseau added.

Read the full article with subscription (paywall) at The Bond Buyer website.

Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.