BKN - Where Was The 2018 January Effect?
The "January effect" is based on the idea of a seasonal increase in asset prices in January, generally driven by supply-demand dynamics. This year it was nowhere in sight for the muni market. However, signs leading up to the start of the year had suggested the likelihood of a strong January effect, so we'll be watching to see how this plays out in the remainder of the year.
In 2017, January got off to a racing start but came to a screeching halt by mid-month. The end result was the weakest January since 2013, with