Taylor Riggs

The tax-exempt market ended on a steady note Thursday, extending for another session a flat to firmer tone in the municipal bond market since Sept. 6.

Municipal bonds traded with a lighter tone Thursday afternoon as the week's largest deals priced earlier in the week and bonds in the secondary market started to look expensive after a week of higher prices.

A weaker Treasury market Thursday morning held munis back from posting another session of gains as traders said the municipal market was quiet with steady trading.

A firmer tone in the municipal bond market persisted Wednesday, even as supply rose with the largest deals of the week pricing for investors. Many of the deals were oversubscribed and bumped up in price in a sign of demand.

A firmer tone in the municipal bond market held up in the midst of the largest deals of the week pricing for institutions Wednesday and traders said new issues were oversubscribed, passing a test of demand.

Ahead of the largest deals of the week pricing in the municipal bond market Wednesday, tax-exempts had a stronger tone.

Demand in the new-issue market pushed municipal bond prices higher Tuesday for the 10th consecutive trading session as a triple-A rated Denver bond deal set the firmer tone in the competitive market and retail investors were lured in by New York City's general obligation debt.

The tax-exempt market continued to grind higher as traders said deals in the new-issue market were very well received, and that demand was indicative of overall strength in the market.

The tax-exempt market continued with a firmer tone Tuesday morning as traders said the market saw firm bids in a week with overall light supply.

The municipal bond market strengthened for the ninth consecutive trading session Monday amid firmer Treasuries and limited new issue supply this week. New York City took advantage of demand, pricing $500 million of general obligation bonds in one of two retail order periods.

New York City offered $500 million of general obligation bonds for retail investors Monday with traders saying the deal was accurately priced and should lure in plenty of investors eying high-grade double-A GOs.

The tax-exempt market opened Monday morning on a stronger note for the ninth consecutive session as traders said the market felt about one basis point stronger.

The tax-exempt market extended its string of gains to an eighth session Friday as muni prices continued to climb on limited new-issue muni supply and bullish sentiment from buyers left over from the Federal Reserve’s decision Wednesday to maintain economic stimulus.

The municipal bond market posted its biggest one-week rally since June as the 10-year yield fell 22 basis points on prospects of continued economic stimulus from the Federal Reserve.

The tax-exempt market continued to post gains Friday afternoon as traders said dealers were replenishing inventory and willing to pay up in price to get bonds back on their books.

Trading in the tax-exempt market continued to stay active coming off of the Federal Reserve rally on Wednesday, though yields started to steady Friday morning.

The municipal bond market defied a softer Treasury market Thursday, extending its Federal Reserve rally into a second session.

A fading Treasury rally wasn’t enough to dampen the firmer tone for municipal bonds Thursday afternoon as muni prices extended gains into another session, building off the stronger tone after Wednesday’s Fed announcement.

The municipal bond market extended its Federal Reserve rally Thursday morning after yields fell almost double digits Wednesday following an announcement by the Fed it would not change its $85 billion-a-month asset purchases.

The tax-exempt market did an about-face and ended much firmer Wednesday afternoon, following weaker trades in the morning, after the Federal Open Market Committee announced it would make no changes to its $85 billion-a-month bond purchasing program.