Citi’s exit raises concerns about liquidity in high-yield market

With the high-yield municipal bond market riding a tide of inflows and new deals in 2024, investors say , 16Rock Asset Management, Truist Financial Corp., Ramirez, Assured Guaranty, Loop Capital Markets and Huntington National Bank.

“The loss of Citi really highlights the over-the-counter nature and the importance of relationships within the muni market,” Lee said. “I do expect to see that gap being filled, it’s just going to take some time.”