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Friday, December 22, 2017

MANAGING DIRECTOR:
Scott Carrithers
 
PORTFOLIO SALES AND SERVICE:
Steve Panknin • George Morris • Jeff Goble • Chris Thompson • Sean Doherty
Robert Brickson • Kevin Doyle • Lonnie Harris •  Mark Tranckino • Robert Schuyler 
Tom Toburen • Josh Kiefer • Nicole Burczyk • Kelley Frye • Natalie Regan • Aaron Stoffer • Chuck Honeywell

US Treasury Market
Date 1 mo 3 mo 6 mo 1 yr 2 yr 3 yr 5 yr 7 yr 10 yr 20 yr 30 yr
12/14/17 1.21 1.32 1.48 1.70 1.82 1.92 2.14 2.27 2.35 2.53 2.71
12/15/17 1.24 1.31 1.48 1.71 1.84 1.95 2.16 2.28 2.35 2.52 2.68
12/18/17 1.26 1.38 1.51 1.70 1.84 1.94 2.17 2.30 2.39 2.57 2.74
12/19/17 1.25 1.37 1.51 1.71 1.87 1.97 2.23 2.37 2.46 2.66 2.82
12/20/17 1.22 1.38 1.51 1.72 1.87 1.98 2.24 2.40 2.49 2.71 2.88
12/21/17 1.21 1.35 1.54 1.73 1.89 2.01 2.26 2.39 2.48 2.68 2.84

                                                                                       Source: U.S. Department of the Treasury, as of 12/21/17  

                                                  A Municipal Traders Perspective

As 2017 comes to a close, we have seen more volatility than normal in the municipal market.  This has been caused by the increase in municipal issuance, the uncertainty of tax reform, and year-end tax loss planning.

Due to the increased volatility, the municipal market has seen rates increase over the last month and presented some good opportunities for those still interested in tax exempts.  We look for bank qualified issuance to drop off significantly over the next 30 days and for rates to stabilize.  Market estimates suggest the overall municipal issuance will drop around 30% due to the elimination of issuer’s ability to advance refund their outstanding debt. 

Who knows if 2018 will be as exciting?

Thank you very much for the business throughout the year and for the opportunity to serve you.

Enjoy the season with friends and family and BE THANKFUL.

Happy Holidays from your friends at Country Club Bank!
 

 



This information is intended for institutional investors only. The material provided in this document/presentation is for informational purposes only and is intended solely for private use. Past performance is not indicative of future results. This material is not intended as an offer or solicitation for the purchase or sale of any financial instruments.

•Not FDIC Insured •No Bank Guarantee •May Lose Value