Municipal Bond Weekly Roundup: April 5


April 05, 2013

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The bulls and the bears continued their tug-of-war this week, as investors digested a slew of economic news from around the globe. Disappointing ISM and labor data weighed heavily on the markets, with manufacturing, initial jobless claims, private sector jobs, and nonfarm payrolls all coming in below expectations. Meanwhile, Japan's central bank announced a series of aggressive easing measures, stating that it will double its government bond holdings in two years.

To close out the week, U.S. Treasuries surged as investors piled into the safe-haven asset; yields on 30-year bonds fell 14 basis points during Friday's session. In the municipal bond space, investors kept a close eye on California as the city of Stockton came under scrutiny [see Major Muni Implications in Stockton Trials].

Weekly Overview:

Date Total Trades Dollar Volume $1m+ Trades S&P National Muni Bond Fund (MUB) Performance
Monday 04/01/2013 39,355 $5,583,543,830 1394 -0.01%
Tuesday 04/02/2013 44,435 $5,050,584,176 1113 0.21%
Wednesday 04/03/2013 43,536 $6,193,783,325 1538 0.15%
Thursday 04/04/2013 43,507 $6,756,016,614 1731 0.07%
Friday 04/05/2013 37,808 $6,070,506,500 1557 0.30%

It was a relatively active week for the municipal bond market, with trading volumes peaking on Wednesday and Thursday. The iShares S&P National Municipal Bond Fund (MUB), which seeks to measure the performance of the investment grade segment of the U.S. muni bond market, traded slightly higher but within a narrow range the week, posting modest gains on Friday [see more Market Activity].

Most Active Issues This Week

Highest Yielding Issues This Week

Million Dollar Club

These municipal bonds boasted some of the largest dollar trade amounts this week, all of which topped $5,000,000.

2 Articles Municipal Bond Investors Must Read

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