Municipals outperformed moves in U.S. Treasuries Thursday, playing catch up to taxables’ massive flight-to-safety rally that hit Wednesday, while equities ended in the black. Municipal triple-A yield curves saw up to 10 basis point bumps on the long end while UST saw yields fall four to eight basis points. Muni-UST ratios on Thursday were at
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Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Wednesday, April 14, 2021. Michael Nagle | Bloomberg | Getty Images Coinbase shares fell on Wednesday after rival crypto exchange Binance.US said it’s dropping certain trading fees for customers. Binance.US, the U.S. affiliate of the
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Constructive secondary trading and an active primary pushed triple-A muni yields lower on the back of a U.S. Treasury flight-to-safety rally after Federal Reserve Chair Jerome Powell acknowledged for the first time that it was “certainly a possibility” the U.S. economy may face a recession as the Fed continues to contend with inflation. “Inflation has
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