Kate Smith

Traders have been forced to look ahead, placing bids early to ensure a bite at the few deals scheduled for late this week.

In an otherwise sleepy secondary Puerto trading volumes spiked on Tuesday, leaving traders to speculate on what information has become available surrounding PREPA's letter of credit.

Secondary activity has been light as traders scramble to bid on the handful of smaller regional deals in the primary Tuesday afternoon.

Rhode Island's Tobacco deal has been put on day to day status by Citigroup following a lawsuit from two Oppenheimer Rochester funds.

The primary market will be light Tuesday with the largest deal coming from Portland, Ore., which will auction $288 million of sewer debt in two parts.

A market hungry for yield will look to this week's Rhode Island tobacco bonds, even given the sector's reputation for distress.

Munis were largely unaffected by last week's heavy slate of economic data releases as technicals of supply and demand continue to drive the market.

Friday's market will be dominated by the impact of the morning's release of the jobs report, traders anticipated.

July volume was down year over year as municipalities keep their foot on project financing, opting to rebuild reserves and liquidity instead.

The market stayed largely firm on Wednesday as treasuries rose to yearly highs following an unexpectedly high GDP announcement in the morning.

The muni market shrugged off this morning's GDP numbers as Treasuries weakened across the curve.

A light primary calendar gets put on hold as the market awaits two of this week's most important economic events: the GDP report and the FOMC statement.

Bids for munis in the secondary market surged Tuesday as investors looked for safe places to park funds amid heightened international tension.

The Hawaii highway deal set to price Tuesday will benefit from a combination of inflows and a light issuance week on the primary calendar.

Maryland's general obligation sale was the most talked about story on trading desks this past week as the market anticipated the gilt edged deal might move the MMD triple-A scale. Trading on Puerto Rico's GO was muted.

The Amsterdam at Harborside plans to file for bankruptcy tonight or tomorrow, the conclusion of over a year of restructuring negotiations with bondholders. The plan does not forgive any debt, but does feature a senior and subordinate exchange offer.

The Amsterdam at Harborside bond trustee accidentally posted the retirement community's restructuring plan to EMMA this morning, only to promptly remove it and replace it with a blank PDF.