Taylor Riggs

Activity in the tax-exempt market was quiet Monday afternoon as traders waited for new deals to come later in the week.

The tax-exempt market is seek direction from the primary market this week as traders look forward to the year-to-date’s largest weekly calendar of new issuance. Despite the anticipated uptick in supply, yields remain near record low levels.

Herbert J. Sims, one of the oldest municipal bond underwriters, has acquired Braintree Capital Partners in its effort to expand into the investment management business.

The tax-exempt market ended on a stronger note as munis strengthened on Friday after weakening all week.

NEW YORK – The tax-exempt market ended on a stronger note as munis strengthened on Friday after weakening all week.

The tax-exempt market showed signs of slowing Friday afternoon as traders started to focus on the heaviest new-issue calendar of the year to date, expected next week.

The tax-exempt market seems to be on better footing Friday morning after five consecutive days of flat or weakening munis.

Throughout the week, most traders have been mixed on the market. Most deals have been received and many were bumped up in size. But other deals have cut prices to get them out the door.

Throughout the week, most traders have been mixed on the market.

Traders were focused on the primary as two larger deals priced early Thursday, but as attention on those deals waned, dealers shifted their sights to the secondary market.

The tax-exempt market was calmer Thursday morning after a flurry of new deals came to the market Wednesday. Traders took the morning to recover from yesterday’s deals ahead of several more big deals expected to come to market today.

The primary market took center stage in the municipal market as most of the bigger deals of the week arrived on Wednesday.

The primary market took center stage in the municipal market as most of the bigger deals of the week came to market Wednesday. Some traders noted the large amount of deals forced some price cuts, but said that didn’t take away from the fact that deals were well received.

The biggest deals in the tax-exempt market took small concessions as they competed for attention in the primary market Wednesday. Despite some lower adjusted prices, traders said demand is still strong.

The tone of the tax-exempt market was mixed Wednesday morning as some traders said the market is struggling with the $5 billion in new issuance in a holiday-shortened week while others said deals were being priced well and the market isn’t as weak as some believe.

The tax-exempt market was weaker Tuesday as munis followed Treasuries lower on positive news from Greece.

The tax-exempt market was weaker Tuesday as munis followed Treasuries lower on positive news from Greece. While munis were weaker, many traders said deals in the primary market were being priced attractively and saw strong interest, highlighting demand from investors in the supply-starved market.

Tax-exempt bonds in the new issue market are being priced well despite a rally in the stock market and weaker Treasuries, traders said.

Positive news that Greece will receive its second bailout package pushed some investors into riskier assets, forcing Treasuries and munis lower. But not all traders think the Greek drama is over, and many expect munis to stay stronger until a final resolution is reached in Europe.

The tax-exempt market was quiet Friday as traders closed early ahead of the three-day weekend. Overall for the week, deals were very well received, many new issues were bumped up in size, and yields fell across the board.