Municipal bonds firmed Tuesday as Treasuries rallied out long and equities ended mixed, with muni yields richening by up to seven basis points, mostly at the front of the curve. Chris Brigati of SWBC said the expected weakness from a larger new-issue calendar had not materialized, suggesting enough value and pent-up demand to absorb the bigger supply. He also described a notable Treasury shift, as high inflation data drove a flight to quality out of the AI trade, though underlying inflationary pressures remain. Municipal CUSIP requests rose 2.0% in September from August but fell 1.5% year-over-year, with Texas leading at 184 requests, followed by New York (175) and California (104). In primary sales, Jefferies priced $485.34 million of California State Public Works Board lease revenue bonds, and BofA Securities bought $475.42 million of Virginia Public Building Authority public facilities revenue bonds in a competitive sale.
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Related tickers and likely impact
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 101.70 |
| Change that session | -0.28% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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