In the News:
- The Next FOMC Meeting is Wednesday, May 3, 2023 and there is an 87.4% probability of a 25 basis point increase, according to CME Group’s Fed Watch Tool.
- The Minnesota omnibus tax bills included a provision to utilize surplus Stadium Reserve Funds to pay off remaining stadium bonds. The provision is estimated to save taxpayers over $200 million in interest costs.
- The State of Wisconsin accepted tender of $547 million bonds this past week. This year is on track to be the largest year for voluntary, non-distressed tender offers so far according to BondBuyer.
- BVAL AAA Curve = Bloomberg Valuation Service’s real-time and contributed sources tracking movement in the Municipal market.
- BBI = Bond Buyer Index; a daily index of municipal bond prices created by the Chicago Board of Trade and published by The Bond Buyer.
- RBI = Revenue Bond Index; a weekly index of interest rates on revenue bonds.
- 10-Year TSY = 10-Year Treasury index tracking the yield of U.S. Treasury Securities. It is closely watched as an indicator of broader investor confidence.
- SOFR Index = An extension of the Secured Overnight Financing Rate (SOFR), it measures the cumulative impact of compounding the SOFR on a unit of investment over time (i.e. One Year).
- Fed Funds Rate = Set by the Federal Open Markets Committee, it guides overnight lending between U.S. banks.
*30 Day Visible Supply based on Bloomberg Fixed Rate municipal calendars. Excludes accreted value of capital appreciation bonds and short-term notes. Prior to March 7, 2005, values calculated using full calendar history.
Source: Bloomberg – Rates as of 4/27/23
EMMA New Issue Calendar
FRED Economic Calendar
Ehlers’ Upcoming Bond Sales & Recent Sale Results
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