Oliver Renick

Yields on municipal bonds fell Tuesday afternoon as a few of the week's bigger deals came to the market.

With issuance in the municipal marketplace at its lowest since 2011, investors are increasingly looking to the planned deal by the government of Puerto Rico for relief.

Trading in the municipal market crept into the week Monday as a dearth in bonds kept activity light. The amount of Puerto Rico trading slid.

After a week with just $1.89 billion of new issuance, the municipal market opened slowly Monday as investors still had little to look forward to in the way of new money bonds.

After almost a decade of shrinking business and muddied prospects, the bond insurance industry ended 2013 having tackled at least one major milestone: get penetration back on the upswing.

The municipal market will see a small boost in issuance next week even as total volume remains low.

Yields on tax-exempt municipal bonds were unchanged Friday, as an absence of new issue paper continued to plague the marketplace.

Municipal bond yields steadied Friday afternoon after rising earlier in the morning. Yields continued to remain low even after a week of softening in U.S. Treasuries.

The municipal bond market was quiet Thursday as a lack of new issuance kept many investors either out of the market or trading in the secondary.

The weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was down one basis point this week, at 4.88% for the week ending Feb. 6.

Municipal bond yields were steady Thursday afternoon as the value of Treasuries weakened following a weekly U.S. jobless claims report.

The value of bonds in the municipal market is still largely a function of lack of supply, even as developments in Puerto Rico and the Fed's tapering policy contribute to market dynamics.

The municipal bond market ended Wednesday stronger, helped by low supply and indications that the Federal Reserve will continue to slow its quantitative easing program at a measured pace.

The week's two largest deals being priced for retail weren't enough to get the municipal market rallying Wednesday, traders said.

Retail investors in the municipal bond market showed some life Wednesday morning as two of the week's largest deals held retail order periods.

In a day marked by slow trading and a lack of substantial new issuance, municipal market participants on Tuesday focused their attention to a conference call by the Government Development Bank of Puerto Rico.

Municipal bond traders trudged along Tuesday afternoon as activity was muted ahead of a Puerto Rico conference call.

The municipal market crept into the week Tuesday morning following a three-day weekend and light trading activity on Friday.

Cheapening Puerto Rico bonds are again drawing the attention by hedge funds looking for high yield investments.

The municipal market has been plagued by a dearth of issuance since late last year year, and there isn't much hope for relief on the horizon.