MUST News and Press, Columbia Multi-Sector Municipal Income From 04/05/23

2023-04-05 05:00:00 ET Summary Finding an effective way to address reinvestment opportunities will be crucial. Multi-sector should be more tactical, with the return objective generally expected to be positive in absolute terms over a cycle. The available sectors can be similar...

2023-04-04 02:30:00 ET Summary Treasury yields continued to be extremely volatile during the first quarter as banking issues sent shockwaves through the market, signaling a slowdown in the Fed’s hiking cycle. The net result of interest rate movements during the first quarte...

2023-03-30 13:15:00 ET Summary The bond market saw the US Treasury close the quarter with unprecedented volatility, spurred by the banking crises that began on March 9th. The volatility since the Federal Reserve stepped in and insured Silicon Valley Bank depositors on March 10th&#...

2023-03-15 22:25:00 ET Summary The failure of Silicon Valley Bank, along with Silvergate Bank and the Signature Bank of New York, has created what is possibly an inflection point in the bond markets. The effect on the fixed-income markets has been nothing short of astonishing. ...

2023-03-08 06:30:00 ET Summary Municipal bonds posted negative total returns and modest underperformance versus Treasuries. While supply remained manageable, demand waned as performance turned negative. We maintain a defensive posture given our expectation for continued intere...

2023-03-07 09:09:00 ET Summary As we reflect on the disappointing performance of municipal bonds in 2022 and even so far in 2023, the fundamentals really have not been a driving force. Inflation not only hits consumers, it hits governments too. Wage inflation has created challenge...

Summary Municipal bonds posted historically strong total returns in January, amid rallying interest rates. Light issuance and improved demand spurred outperformance versus comparable Treasuries. Waning seasonal tailwinds and potential for added volatility warrant some near-term caut...

Summary According to Bloomberg News this week, the State of Florida is proposing legislation that will prohibit the use of ESG factors by state and local governments when issuing bonds. Issuers depend on the ratings they receive from the rating agencies to sell bonds in the capital mark...

Summary Municipal bond investors worry about the impact of a potential recession on the financial health of individual states. With states more prone to banking than spending their growing coffers, rainy-day funds hit a record $134.5 billion in 2022. States—especially those d...

Summary We knew that California would announce a budget deficit. California’s credit ratings incorporate the tax volatility it faces, so as long as the state employs a diverse approach to addressing any deficits, we don’t expect any ratings actions at this time. A slow...