Taylor Riggs

High quality credits in the municipal bond market traded stronger Tuesday morning as market participants said mid- to high-rated credits were well received in the primary.

The municipal bond market started the week on a strong note with yields heading lower with Treasuries as bankrupt Jefferson County, Ala., issued bonds for retail investors for a second day.

The municipal bond market traded stronger Monday afternoon even as bonds were put out for bid in the secondary market.

The tax-exempt market opened on a quiet note Monday morning as traders waited for Jefferson County, Ala., to issue a second retail pricing for $1.8 billion of sewer revenue bonds.

The municipal bond market ended firmer for a third session on Friday as Jefferson County, Ala., began a retail order period on $1.8 billion of sewer warrants and traders saw higher bids for bonds in the secondary.

The tax-exempt market ended firmer for the week as investors put in more orders for bonds than were available on deals in the primary market. The secondary was firmer as the week progressed with dealers unloading balances from deals to customers at higher prices.

The tax-exempt market was firmer Friday afternoon as secondary bids were well received and Jefferson County issued a first retail pricing for $1.8 billion of sewer revenue bonds.

Dealers unloaded balances left over from the new issues priced earlier in the week Friday morning as half the trading volume came from dealers selling bonds to customers. Puerto Rico trading activity was quiet after the general obligation bonds were put on credit watch negative by Fitch Ratings.

The municipal bond market ended with a firmer tone Thursday with strong reception for the week’s largest deals in the primary and a higher Treasury market coming off of Janet Yellen’s comments on accommodative monetary policy.

The tax-exempt market was firmer Thursday afternoon as the week's largest deals saw positive reception and muni bond prices caught up to higher Treasuries.

The municipal bond market traded firmer Thursday morning, following a stronger Treasury market, as Janet Yellen spoke in front of the Senate Banking Committee during the confirmation hearing for her nomination as Federal Reserve chair.

New deals auctioned in the competitive market were well received Wednesday, with richer prices offered than the general benchmark scales and little balances remaining.

Three triple-A issuers auctioned bonds in the competitive market Wednesday, with few balances left over on the deals and prices richer than the benchmark scales, even in an overall weaker market.

Several of the week's largest deals were set to price Wednesday, leaving the secondary market weaker for a third session as traders eyed cheap deals in the primary.

The tax-exempt market traded weaker for a second session on Tuesday as total volume fell and market participants prepared for new deals to price in a holiday-shortened week.

The tax-exempt market traded steady to a few basis points weaker Tuesday afternoon as the secondary faded and market participants prepared for pricings of new deals.

Puerto Rico was actively traded in the tax-exempt market Tuesday morning, even with a drop in overall volume and light trading of Chicago general obligation bonds following a three-notch downgrade by Fitch Ratings.

Municipal bond yields ended almost 10 basis points higher on Friday, following an even bigger selloff in the Treasury market, after a better-than-expected October employment report was released.

Yields on municipal bonds ended higher for the week as primary deals were priced to sell and secondary prices improved as the week progressed.

The better-than-expected October non-farm payrolls report released Friday morning continued to pressure fixed income markets with municipal and Treasury yields jumping as investors sold safe haven credits for riskier assets.