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Munis little changed as the Fed uncertainty persists
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Munis were little changed on Monday, as U.S. Treasuries cheapened and equities ended lower.
Processing ContentMuni yields fell by up to two basis points in the belly of the curve.
The muni market was treading water on Monday, according to Ajay Thomas, head of public finance at FHN Financial.
The elephant in the room, Thomas said, is the U.S.-Iran war, and how negotiations about the Strait of Hormuz will affect oil prices.
The markets are likely to adjust to changes in oil prices during the week, he said.