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Market Close: Traders Looking Ahead to Next Month, Next Issues
The municipal bond market looked ahead to next month's new wave of bond supply as November's activity faded away in the last few trading hours of the month.
Bond Buyer Markets Reporter Chip Barnett
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Long-term municipal bond issuance rose for the fourth month in a row as volume increased 15.3% in November. more »
The Treasury Department auctioned $29 billion of seven-year notes, with a 1 7/8% coupon, a 1.960% high yield, a price of 99.446691. more »
Municipal strategists say intermediate securities, premium bonds with short calls, and investment-grade paper, top their holiday wish lists of must-have securities as 2014 winds down, while they forecast continued steady performance by municipals into early 2015. more »
Municipal veterans Eric Vandercar and Peter Bianchini have been named to the 2014 Municipal All-Star Team by independent research firm Smith's Research & Gradings, while John Hallacy was chosen to receive the Lifetime Achievement Award. more »
The Treasury Department said Wednesday it will auction $24 billion 91-day bills and $26 billion 182-day discount bills Monday. more »
Moody's Investors Service said it downgrades Mills College, Calif.'s debt rating to Baa3 from Baa2. more »
The municipal bond market saw the last of this month's issuance come to market on Tuesday, pretty much wrapping up this week's and this month's activity. more »
Sales of new single-family homes grew 0.7% to a 458,000 seasonally adjusted annual rate in October, according to data released by the Commerce Department Wednesday. more »
Pending home sales declined 1.1% to an index reading of 104.1 in October, after a revised 0.6% gain to 105.3 in September, according to a report released Monday by the National Association of Realtors. more »
The University of Michigan's final November consumer sentiment index reading was 88.8, compared to the preliminary November 89.4, and the final October 86.9, according to market sources. more »
The Chicago Purchasing Managers' Business Barometer fell to 60.8 in November from 66.2 in October, the National Association of Purchasing Management-Chicago said Wednesday. more »
The seasonally adjusted Milwaukee Report on Business rose to 70.3 in November from 65.6 in October, the Institute for Supply Management-Milwaukee reported Wednesday. more »
October personal consumption expenditures posted a 0.2% rise and personal income grew 0.2%, a tad weaker than expected. more »

Are some tax-exempt bond issuers incurring unnecessary costs and unexpected risks by over-relying on traditional fixed rate debt?

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