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-8.66926744690517E-05 -8.66926744690517E-05 8.66926744689285E-05 -8.66926744690517E-05 8.4958820979614E-05 0 0 -0.00017338534893798
Stock impact report

Worst Returns Since September Show Munis Vulnerable to Fed Talk [BNN Bloomberg (Canada)]

Vanguard Short-Term Treasury ETF (VGSH) 
Company Research Source: BNN Bloomberg
US state and local debt is on track to post a loss of 1.24% in April, according to Bloomberg indexes. Treasury and other debt markets have been selling off as economic data indicates persistent inflation pressures. Wall Street firms and investors have tempered their expectations for interest-rate cuts in 2024, now anticipating the Federal Reserve will hold borrowing costs at a more than two-decade high at its meeting on Wednesday. The gloom has affected the muni market, which at times can continue to attract investors because of the tax-exempt status of state and local securities. But mutual funds, a key buyer in the marketplace, have seen choppy demand. And borrowing by municipalities has picked up, which can weigh on prices. In April, state and local debt sales climbed more than 20% year-over-year to about $39.5 billion, according to data compiled by Bloomberg. “Supply finally went up, and that's a headwind,”said Kathleen McNamara, senior municipal strategist at UBS Global Show less Read more
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