James Ramage

NEW YORK — The municipal market quietly ended Thursday’s session with a weaker tone as yields mostly moved in tandem with those of Treasuries.

Bond issuers may not be pleased with the concessions on this week’s supply, but the deals are getting done, traders report.

The weight of this week’s supply has been weakening the municipal market. The sell-off on the Street is orderly, however, a trader in California said.

Many of the concessions written into this week's new deals in the municipal primary market are sufficient to push yields up, but not enough to draw buyers.

NEW YORK — Many of the concession written into the new deals this week in the municipal bond primary market are sufficient to push yields up, but not enough to draw buyers.

Municipal bond traders are noticing that no one wants to stick his neck out for the new issuance. The result is that deals are coming in at wider spreads, and liquidity in the secondary is harder to find.

The week’s new issuance so far appears to have municipal bond yields moving upward Wednesday. Concessions needed to get deals done are forcing wider yield spreads to benchmark scales.

A flood of new issuance hit the municipal market Tuesday. And underwriters tried to make sure that sufficient concessions from the extremely low nominal yields made the deals as attractive as possible.

NEW YORK - A flood of new issuance hit the municipal market Tuesday. And underwriters tried to make sure that sufficient concessions from the extremely low nominal yields made the deals as attractive as possible.

The new muni deals are flooding into the primary market at wide spreads to benchmarks. Low nominal yields are applying pressure and keeping activity in the secondary market muted, a trader in Chicago said.

The municipal market faces the arrival of a shipload of new deals Tuesday. But the yield curve seems to be of two minds: weakening at the short end and firming at the long end. Nevertheless, it is new issuance and not strengthening Treasuries that is pulling the muni cart, a trader in New York said.

Municipal bond yields found a semblance of balance Monday from rising Treasury prices and falling stock prices, all in the shadow of the expected surge of new issuance.

NEW YORK — Municipal bond yields found a semblance of balance Monday from rising Treasury prices and falling stock prices, all in the shadow of the expected surge of new issuance.

Munis may be extremely cheap compared to Treasuries, but that hasn’t led to a lot of interest.

Municipal bond participants have set their sights on this week’s expected supply, and how the market is going to handle it.

The municipal market ended the week with two days of hibernation.

NEW YORK — The municipal market ended the week with two days of hibernation.

NEW YORK — Holiday-lightened staffs on municipal bond desks have led to limited trading activity so far Friday.

Municipal bond mutual funds saw inflows for a fourth consecutive week, doubling last week's numbers.

The grand saga of the municipal market concluded another brief chapter Thursday without advancing the story arc very much.