With CEO Annie Seelaus
A decidedly firmer tone to the market this morning with a rally in oil, up to $27.92 last, as OPEC members signal cooperation on slowing output. In credit news, Deutsche Bank detailed their plans for a debt buyback.
The market tone is decidedly more positive this morning as European Bank stocks rebound. Notable deals today are $130mln from the U of IL, $68mln College Station GOs, and $35mln Oldham County KY.
Investors seem cautiously optimistic today. Oil is hovering just over $30. The highlight of today’s muni calendar will be the pricing of a deal from the Chicago Board of Education, which was delayed last week.
Global markets are under pressure once again this morning as the sell-off in oil resumes in earnest. The highlight of today’s muni calendar will be the pricing of $210mln San Antonio Waters.
Global equities are trading off to start the week, down on weak Chinese manufacturing numbers. Munis continue to receive new cash as $594mln flowed into funds with 17 straight weeks of inflows.
Firm tone to global markets this morning as Japan’s central bank voted to adopt a negative interest rate policy. Equities are up and the Treasury market is rallying aggressively in response.
Oil is rebounding nicely at $32.85 and helping underpin the positive tone in the markets. In muni credit news, Chicago BOE delayed the sale of $875mln in new debt to give the market more time to digest the deal.
Stocks, Bonds & Beyond
With Founder and Chairman Rich Seelaus