NMCO - U.S. Municipals: A Tale Of Two Markets And A Knight In Shining Armor
By Mark Paris, Chief Investment Officer, Head of Municipal Strategies, Invesco Fixed Income, and Timothy Spitz, Product Director
We examine the state of the municipal bond market over the past few months.
The municipal bond market has seen a nice recovery in investment-grade names over the last few weeks. The new issue calendar remains light, with the big coupon reinvestment and maturity months of June and July right around the corner. The few large new issues that have come to market (a USD800 million state of Illinois General Obligation bond and a roughly USD2