Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
Blog Home
Jeff Margolin
Closed-End Fund Analyst
Click for Bio

Follow Jeff on LinkedIn
Ryan Issakainen
ETF Strategist
Click for Bio

Follow Ryan on LinkedIn

  Municipal Quarterly Update – 3rd Quarter 2015
Posted Under: Municipal
3rd Quarter 2015 Municipal Market Performance and Highlights
  • The Barclays Municipal Bond Index returned 1.65% for the three months ended September 30, 2015, bringing the year-to-date total return for the
  • index to 1.77%.
  • Municipal bond yields followed U.S. Treasuries lower, as global economic weakness, volatile equity markets, and the Federal Reserve's ("Fed")
  • September decision to postpone tightening drove a flight-to-quality rates rally. The 10- and 30-year U.S. Treasury rates fell 29 basis points (bps) and
  • 24 bps, respectively, to 2.06% and 2.87%.
  • New issue supply was lighter due to seasonal softness and declining refinancing volume as yields remained elevated into August versus those at the
  • start of the year. For the first nine months of the year, municipal bond issuance totaled $312.5 billion to outpace 2014 issuance during the same period
  • by 34.6%, well below the 44.9% year-over-year pace set during the first half of 2015. (Source: Barclays, SIFMA)
  • Net mutual fund flows remained modestly negative for a fifth consecutive month compressing total net inflows year-to-date through September 23,
  • 2015 to $4.5 billion from $6.8 billion at the end of June 2015. (Source: Barclays, Investment Company Institute)
  • Credit fundamentals remained healthy as first time defaults continued to trend lower and state and local government tax revenues surged higher.
Click here for the full report.
Posted on Friday, November 6, 2015 @ 8:01 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Third Quater 2015 CEF Review
Senior Loan & High Yield Review
Diversify Your Short Duration Income Portfolio
Municipal Market Update - 2nd Quarter 2015
Questions to Ask Your "Smart Beta" ETF
Second Quater 2015 CEF Review
Senior Loan & High Yield Review
Limited Duration Closed-End Funds Performing Well in 2015
Municipal Quarterly Update – 1st Quarter 2015
Inside First Trust ETFs: A Snapshot of Q1 Flows and Trends
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2020 All rights reserved.