Taylor Riggs

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.

The tax-exempt market had no trouble handling the large supply that came in the primary Wednesday.

NEW YORK – The tax-exempt market had no trouble handling the large supply that came in the primary market Wednesday. Deals were oversubscribed even as a large deal was priced a day ahead of schedule.

With still a lot of cash on the sidelines, tax-exempt investors are buying up bonds in the primary market. Traders noted the uptick in supply this week has not scared away investors and many deals are still oversubscribed.

Traders are staying busy as the primary market is taking all the attention in the tax-exempt market Wednesday morning. Munis are steady ahead of new deal pricings, even as Treasuries fall lower on positive economic news.

The tax-exempt market absorbed one of the largest days of new issuance this week very well as traders said new orders were flowing in during retail order periods.

NEW YORK – The tax-exempt market absorbed one of the largest days of new issuance this week very well as traders said new orders were flowing in during retail order periods. Other traders noted they weren’t getting too excited as the real test will come later this week.

The tax-exempt market is holding firmer ground despite an uptick in supply. Deals are being well received in the market place and secondary trading activity is stronger.

The largest week of new issuance so far this year is well underway as traders said there is a spurt of buying in both the primary and secondary markets.

The tax-exempt market was quiet Monday as traders look ahead to the year’s largest weekly calendar of new issuance to date.

NEW YORK – The tax-exempt market was quiet Monday as traders look ahead to the year-to-date’s largest weekly calendar of new issuance. While some traders are nervous about how the market can absorb the uptick in supply, yields still remain near record lows.