Taylor Riggs

Issuers in California and Texas were met with ample demand Tuesday as they priced some of the largest new deals expected this week, a sign that investors are beginning to see value after two-month slide in the municipal bond market.

Issuers out of Texas took advantage of stability in the market with three deals each over $100 million leading issuance Tuesday.

A flood of borrowers tapped the primary market Tuesday, taking advantage of a calm period following Friday's selloff and weakening Monday.

A selloff in the municipal bond market Friday after a better-than-expected June employment number continued into Monday as yields rose further.

Activity was focused on the secondary market Monday afternoon as bonds maturing within 10 years were under the most pressure.

The largest deal of the week is expected to price in an overall weaker market Monday amid a calendar that could top $6 billion in new deals.

Light trading volume Friday on the Fourth of July holiday-shortened week didn’t stop a selloff in muni bonds as yields jumped with Treasuries on better-than-expected June employment data.

Following Friday's better-than-expected June employment number, municipal bond yields jumped, following Treasuries.

With the Fourth of July holiday cutting the trading week short, municipal bonds were able to spend most of it recovering from the recent selloff.

With most municipal bond traders still on vacation for the Fourth of July holiday, muni trading was quiet even as Treasury yields jumped on better-than-expected June employment numbers.

Amid a quiet session Wednesday ahead of the Fourth of July holiday, dealers kept inventory light in anticipation of Friday's employment situation report.

A few municipal bond traders participated in the market Wednesday morning, though activity started to slow ahead of the early 2 p.m. close.

One of the largest deals postponed during the recent muni selloff priced Tuesday as a stable market restored issuers' confidence to borrow in the primary market.

New York's Metropolitan Transportation Authority came to market Tuesday in one of the larger deals of the week, pricing for institutions $336 million of revenue bonds that were pulled June 19 due to market volatility.

After a slow, steady grind higher over the past few sessions following the massive selloff, the tax-exempt market opened steady Tuesday.

With the tax-exempt market seemingly stabilized after a whipsaw week, several borrowers chose to dip their toes into the primary Monday. Those braving the waters included some names that decided discretion was the better part of valor when staring down the historic selloff the muni market just endured.

Some of the week's largest issues priced in the primary Monday as borrowers took advantage of a relatively light primary calendar to greet July 1 reinvestment money.

A few deals in the primary market priced Monday morning as borrowers took advantage of July 1 reinvestment money and a light new issue calendar in a holiday-shortened week.

Severe weakening earlier in the week followed by a mid-week rally led to a quiet trading session Friday as yields ended mostly steady across the curve.

Calmness settled over the municipal market Friday afternoon as traders digested the week's news and waited for July 1 reinvestment money to hit the market next week.