Muni Fortnightly - July 30, 2018
Aug. 05, 2018 2:20 AM ETTLT, TBT, MUB, TMV, IEF, NVG, SHY, NEA, TBF, IIM, EDV, TMF, NUV, NAD, PML, NZF, PMF, VMO, LEO, TTT, EVN, KTF, NAC, PMX, AFB, BFK, VGM, ZROZ, DSM, NXP, PST, BKN, EIM, PZA, VGLT, XMPT, IQI, BLE, VKI, PCK, IEI, PMM, VKQ, MVF, MVT, TLH, TFI, MYD, PCQ, MYI, MUA, PMO, PLW, PZC, OIA, MEN, VTEB, ETV, MMU, VCV, BIL, BYM, MCA, VGSH, VGIT, NKX, UST, BBK, BFZ, DMF, UBT, KSM, MFM, MUE, DTYS, GOVT, MFL, TYO, SHV, BAF, MHD, MUC, BBF, DMB, SCHO, MQY, CMF, MIY, MYF, GSY, DLBS, EIV, SCHR, MYC, MUH, NUW, EVM, NXQ, DTF, BSD, VUSTX, EOT, NCA, MNP, MUS, CCA, FMN, TBX, VFL, AKP, MQT, PRB, TYD, CEV, NMI, EIA, MFT, MZF, NXR, NIM, PWZ, CXH, BJZ, EMI, SPTI, NBW, DTYL, EGF, TYBS, NXC, NCB, DLBL-OLD, TAPR, RISE, DTUS, RVNU, FMB, MIW, PVI, TUZ, DTUL, FIBR, GBIL, HYDD, DFVL, TYNS, DFVS, FLMB, PBND
- Treasury yields for the week moved with a surge on Monday and stayed range-bound throughout the remainder of the week.
- Muni yields rose but lagged slightly resulting in a richer state.
- States ratings: Illinois to ‘Stable’ by Moody’s, California outlook raised to ‘Positive’ by Moody’s and Michigan upgraded to AA by S&P.
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About our authors: William A. Delwiche, CMT, CFA Investment Strategist Willie Delwiche is Baird’s Associate Investment Strategist. Before joining Baird in 1999, Willie worked briefly as a researcher at the Committee for Economic Development, a Washington, D.C., pro-business think tank. Willie received a BA in economics and in government and politics from the University of Maryland and an MA in economics from the University of Wisconsin – Milwaukee. He is a member of the Market Technicians Association and the American Economics Association. Mary Ellen Stanek, CFA Managing Director Director of Asset Management Mary Ellen Stanek, CFA, has 35 years of investment management experience. She currently serves as Managing Director and Director of Asset Management for Robert W. Baird & Co. and Chief Investment Officer of Baird Advisors. Additionally she serves as President of the Baird Funds. Previously she had served as President and CEO of Firstar Investment Research & Management Company. Mary Ellen is responsible for the development and portfolio management of all proprietary asset management services. She co-manages several fixed income mutual funds as well as a number of taxable and tax-exempt portfolios. Mary Ellen is a member of The CFA Institute, the CFA Society of Milwaukee, the Greater Milwaukee Committee (Chair), Milwaukee 7 (Co-Chair), Tempo (past President) and Professional Dimensions.