The primary market will grind to a halt on Friday, with no deals over $100 million scheduled in either the competitive or negotiated markets, according to data collected from TM3.
Barclays issued a final pricing wire for the Greenville Health System hospital revenue bonds early Friday morning, according to Ipreo. The $85.1 million deal was priced to yield from 2.78% on a 5% coupon in 2024 to 4.10% on a 5% coupon in 2044. The deal features an optional call at par in May 2024 and is rated AA-minus by Standard & Poor's and Fitch Ratings Service. Moody's Investors Service rated the deal A1.
The secondary markets have seen early activity from a Colorado school district bond and the New York City Transitional Finance Authority bond, according to data provided by the Municipal Securities Rulemaking Board's disclosure website, EMMA. As of 9 a.m., EST, $11.84 million Denver School District No. 1 bonds had changed hands, with yields on the general obligation 4s of 2020 falling to 1.699% in round lot trading from 1.86% in April 2014, the last time the bonds had picked up round lot trading activity.
New York City TFA bonds have weakened in the morning trading session, with yields on the 5s of 2031 rising to 3.046% in round lot trading from 2.956%.
Treasuries in the intermediate to long end of the curve weakened in morning trading on Friday, with the 10-year rising six basis points to 2.60% and the 30-year weakening five basis points to 3.32%. The two-year note opened slightly stronger, down one basis point to 0.57%.
