Friday, April 9, 2021
PORTFOLIO SALES AND SERVICE:
George Morris • Chris Thompson • Sean Doherty • Kevin Doyle • Mark Tranckino
Jeff Goble • Nicole Burczyk • Natalie Regan • Aaron Stoffer • David Farris • Lonnie Harris
Brian Schaff • Josh Kiefer • Robert Schuyler • Tom Toburen • Aaron Hemphill
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Opportunities in Municipal Bonds
According to Citigroup analysts, a healthy new issue supply of municipal bonds is expected for the month of April with taxable issuance continuing to account for a larger than historic average. Of the roughly $36 billion expected to be issued, over $10.5 billion of that is anticipated to be taxable. Issues backed by the ever-popular Permanent School Fund (PSF) in Texas tend to be extremely well received and difficult to obtain but we are constantly on the lookout and communicating with negotiated underwriters to purchase as many as we can. Consider these offerings we purchased from a new issue this week, all yielding above 2.00%:
We are looking forward to bidding a number of bank qualified and taxable issues in the competitive market next week. Following are some Midwest issues that we will be targeting.
As always, please let us know how we can assist you in achieving your portfolio goals.
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