NEW YORK – The heat and the fast-approaching end of the week pushed munis into quiet territory Thursday afternoon. While the secondary stalled, the primary was focused on the triple-A rated Georgia pricing.
Munis were stronger Thursday afternoon after a weaker session Wednesday, according to the Municipal Market Data scale. Yields inside 10 years were steady while yields outside 11 years fell as much as three basis points.
On
Treasuries were stronger after weak economic data in the morning. The benchmark 10-year yield and the 30-year yield each fell three basis points to 1.62% and 2.69%. The two-year dropped one basis point to 0.31%.
In the competitive market, triple-A rated
JPMorgan won the bid for the first pricing of $520.1 million, with coupons ranging from 3% in 2013 to 4% in 2032. Prices were not yet available.
JPMorgan won the second pricing of $79.9 million of taxable bonds, and had coupons ranging from 0.35% in 2013 to 3.3% in 2032. Prices were not available by press time.