Nimble Issuers Ride Bull Flattener

U.S. banks are capitalizing on the reversal in rates, and breaking sales records in the process. The firms issued $19bn of bonds maturing in 10y or more in the first three and a half months of 2021, only to flood the market with $26bn of longer-duration paper in the last four trading sessions. JPMorgan set…

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Bit by bit

F1 teams and bond traders both use tech to eke out small gains for big wins Formula One races are won or lost through small decisions and small actions. Each decision to pit, brake or overtake adds or subtracts milliseconds that could mark the difference between victory and defeat. So, too, in bond trading a…

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Riskiest Higher Education Bonds See Gains as Vaccines Rev Up

The expansion of the nation’s vaccination campaign to younger adults is bolstering the outlook for higher education bonds amid growing optimism for a more normal return to campuses in the fall. Source: Bloomberg The Bloomberg Barclays index of the riskiest municipal securities for education — which includes those sold for student housing and other facilities…

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