Taylor Riggs

The tax-exempt market declined for the fifth consecutive trading day, as this week’s supply is far more than demand.

The tax-exempt market continued steep declines for the fifth consecutive trading day as demand is far less than supply this week. Deals in the primary market are getting done only by taking price cuts.

The tax-exempt market continues to weaken Wednesday as demand fails to match supply.

The tax-exempt market is looking to the biggest deals on the calendar Wednesday for direction.

The tax-exempt market is struggling to hold its ground amid the year’s largest week of municipal issuance.

NEW YORK – The tax-exempt market is struggling to hold its ground amidst the year’s largest week on municipal issuance. The primary and secondary market was noticeably weaker, although one deal bumped up prices – showing demand is still strong for certain credits.

The tax-exempt market is struggling under the weight of new supply. While the primary and secondary markets are weaker, one deal in the primary was able to bump prices – hinting demand is still strong for certain credits.

The tax-exempt market is struggling to get a firm footing Tuesday morning as traders say the market is much weaker and many deals are struggling to get done.

The tax-exempt market was calm before the storm. On Monday, traders were patiently waiting for the year's largest slate of new issuance to start pricing this week.

NEW YORK – The tax-exempt market was calm before the storm. On Monday, traders were patiently waiting for the year’s largest week of new issuance to start pricing this week.

The tax-exempt market continues to stay quiet Monday afternoon as traders say activity won’t pick up until new deals are priced.

After handling last week’s large new-issue calendar, municipal investors are facing an even bigger week ahead. The tax-exempt market is quiet Monday morning ahead of pricings.

The tax-exempt market handled the year's largest weekly new issuance fairly well, as traders noted that even though yields rose, munis are still very expensive and demand remains strong.

NEW YORK – The tax-exempt market handled the year’s largest weekly new issuance fairly well as traders noted that even though yields rose, munis are still very expensive and demand remains strong.

Tax-exempt traders are staying out of the market Friday and they recover from a busy week and plan for next week’s hefty issuance.

Activity in the tax-exempt market was slow Friday morning as dealers recovered from the year-to-date’s largest week of new issuance.

Traders showed frustration over the high demand for municipal bonds Thursday, which forced prices higher and stopped them from receiving the block sizes requested.

NEW YORK – Traders showed frustration over the high demand for municipal bonds Thursday which is forcing prices higher and not allowing them to purchase the block sizes they requested. In many cases, traders said they are now staying out of the market until demand cools.

Demand in the tax-exempt market remains high, even with the uptick in supply seen this week. Traders have noted that a third of this week’s deals have been from California issuers, and so supply really isn’t as high as it looks.

The tax-exempt primary and secondary markets are diverging Thursday morning and deals have been very well received in the primary, but the secondary market is showing weakness.