Highlights from Nuveen’s weekly 2019 Aug 26 fixed income commentary:

• Municipals were unchanged even as long duration-Treasuries improved (lower yield) slightly
• Fund flows were positive for the 33rd consecutive week, adding $1.6B to cumulative YTD flows of +$61.2B
• City of Houston $770M transaction showed weakness, with “lackluster” interest and balances at low yields. Dramatic Treasury market rally on Friday cleared balances
• Amid ultra low interest rates, High Yield continued to attract strong sponsorship

Contact Kyle Skinner at KSkinner@buymuni.com.