Oliver Renick

Municipal bonds were steady to firmer Monday morning as market participants began a week that will likely be dictated by the Federal Open Market Committee announcement on Wednesday.

Municipal bonds on Wednesday showed signs of running out of the steam that pushed yields lower earlier in the week.

The municipal market slowed Wednesday morning after building up momentum earlier in the week on sliding treasuries.

After two days of firming municipal yields and falling treasuries, investors Wednesday began seeing the biggest wave of a heavy slate of new issue volume this week.

Municipal bonds strengthened across the entirety of the yield curve Tuesday as the market showed signs of life amid concerns that the federal reserve will slow its bond buyback program.

Build America Mutual Assurance Company, the startup bond insurer launched in July 2012, will offer its insurance on secondary market trades through alternative trading system TMC Bonds.

New York City general obligation bonds priced for institutions on Tuesday were received by the municipal market, which continued to firm from Monday.

Municipal bond yields firmed alongside treasuries Tuesday morning as investors anticipated a heavy volume of new issues coming to market beginning tomorrow.

The municipal market was slow on Monday as traders gauged investor demand ahead of $11 billion of new issue volume expected this week. Some traders said poor economic data from Puerto Rico presented a buying opportunity for investors.

Bonds insured by Assured Guaranty's municipal-only Municipal Assurance Corp. are now available on secondary market trades through alternative trading system TMC Bonds.

Some investors took interest Monday in revenue-backed Puerto Rico bonds even as the government there released data showing the economy sank year-over-year in October.

Municipal bond traders are preparing for what is likely to be the biggest slate of new issue volume before the year is done.

Illinois bonds gained after lawmakers approved a pension overhaul and New York tobacco bonds generated demand from retail investors, limiting damage in the municipal market as fixed income securities slumped on positive economic news.

The market for tax-exempt municipal bonds got a jolt of energy Wednesday morning with the issuance of $1.2 billion of New York tobacco settlement bonds, even as yields softened across most of the maturity spectrum. In Chicago, an approval by lawmakers to overhaul Illinois' pension funds stoked interest in that state's bonds.

Municipals started softer Wednesday morning after economic data from ADP showed more job growth than expected.

The municipal market stayed steady Tuesday as traders prepared for the week's biggest deals, set to price Wednesday and Thursday, and shrugged off a federal judge's decision to grant Detroit bankruptcy protection.

The municipal market began to pick up the pace from a slow start to the week Tuesday afternoon as pockets of demand arose in the short and long end of the yield curve.

The market for tax-exempt municipals opened steady to somewhat firmer as traders eager for paper prepare for a larger slate of deals this week.

Orrick Herrington & Sutcliffe and Pillsbury Winthrop Shaw Pittman have called off talks for a potential merger.

Bond insurers Assured Guaranty and Build America Mutual are getting less compensation for risk as compressed credit spreads and competition force the businesses to cut insurance prices.