Taylor Riggs

The tax-exempt market posted significant losses for the first time in a week, after four days of mostly steady trading, as yields jumped as much as seven basis points.

The tax-exempt market continued to weaken Tuesday afternoon as bid lists surfaced for longer-maturing bonds and buyers stayed focused on the short-end of the curve.

The municipal bond market opened much weaker Tuesday morning as yields followed Treasury yields higher, though the drop in prices didn't stop issuers from borrowing in the primary market.

Retail order periods kicked off an otherwise quiet session Monday as traders said summer vacations slowed down activity in the secondary.

Retail pricing on nearly $200 million of Florida's JEA electric system bonds was met with demand as underwriters halted orders on bonds maturing on the short end of the curve.

The primary market got off to an early start Monday morning with two large issuers, Connecticut and Florida's JEA, pricing bonds for retail investors.

After a busy week in the primary market, tax-exempts paused Friday as yields ended mostly unchanged.

Borrowers in the tax-exempt market enticed investors with high yields in the primary, keeping the focus on new issues and pushing yields higher in the secondary market for the week.

Puerto Rico Electric Power Authority bonds traded stronger in the secondary market amid an overall quiet session.

The tax-exempt market opened on a quiet note Friday morning after an active week in the primary, including deals from Puerto Rico Electric Power Authority and Chicago O’Hare International Airport that enticed investors with high yields.

Taxable municipal issuance soared during the first half of 2013 led by borrowers refunding existing debt at new low rates.

The municipal bond market ended on a mostly steady tone Thursday, even as one Michigan issuer postponed its sale and Chicago bonds traded weaker.

Still reeling from Detroit's bankruptcy, Fifth Third Securities postponed a $60.6 million Saginaw County, Mich., general obligation limited tax pension obligation bond deal Thursday afternoon.

With most of the new issues priced earlier in the week, the tax-exempt market took a breather Thursday morning and traded slightly firmer in the secondary market.

The week's largest issuers borrowed in the tax-exempt market Wednesday as Puerto Rico Electric Power Authority led the way with the Commonwealth's first deal in 2013.

The majority of the week's largest deals priced Wednesday with Puerto Rico Electric Power Authority lowering yields in repricing and Washington State GOs pricing near the double-A Municipal Market Data scale.

Puerto Rico Electric Power Authority grabbed the attention of the municipal bond market Wednesday with yields over 7% attracting buyers.

Triple-B rated credits from Puerto Rico Electric Power Authority and Chicago O'Hare International Airport whetted investors' appetites for higher yields, causing the secondary market to weaken Tuesday.

Many of the week's largest deals priced Tuesday afternoon, including over $450 million of high-grade Minnesota general obligation bonds that traders said looked rich.

All eyes in the tax-exempt market looked to Puerto Rico Electric Power Authority and Chicago O'Hare International Airport to test investor demand in the triple-B space.