Taylor Riggs

A rally in the Treasury market following Federal Reserve Board Chairman Ben Bernanke's testimony to the Congressional Joint Economic Committee, that removing monetary policy accommodation now could halt the recovery, left munis unaffected Wednesday morning.

Demand for municipal bonds waned Tuesday as a flurry of deals in the primary cut prices and increased yields in an attempt to entice investors.

Underwriters in the tax-exempt market cut prices and raised yields as investor demand waned Tuesday afternoon.

Municipal bond sellers emerged Tuesday morning amid a softer market and a flurry of primary deals expected to price later in the day.

Issuers in New York tapped the tax-exempt market Monday for over $1 billion amid an overall softer market.

The tax-exempt market eyed two large New York deals pricing for retail Monday in the primary, taking the focus away from a softer secondary market.

New York City is expected to kick off a week of relatively light issuance with retail pricing Monday for $800 million of general obligation bonds.

Munis outperformed Treasuries Friday as tax-exempts didn't selloff as much as their taxable counterparts.

The muni market slowed to a crawl Friday afternoon, but some strong bids surfaced.

Activity in the tax-exempt market slowed this week as new issuance fell and traders looked to the secondary market for direction.

The typical Friday malaise set in for tax-exempts as munis traded mostly flat in the morning session.

With the majority of new issues priced earlier in the week, the tax-exempt market took direction from Treasuries in an overall risk-off trade following poor economic data Thursday morning.

With most of the new issues for the week already priced, the tax-exempt market pulled strength from a risk-off Treasury rally.

Weaker than expected economic news drove Treasuries higher Thursday morning, but didn’t excite munis enough to get secondary trading.

In the midst of a light primary calendar, traders in the secondary market bought paper in the belly of the curve in search for yield.

With few new issues providing direction Wednesday, tax-exempts traded steady after a buying spree in the morning cooled off.

Puerto Rico Highways and Transportation Authority bonds traded weaker Friday after reports the Authority may default on its bonds, even though Puerto Rico Government Development Bank president Javier Ferrer refuted the claim.

The tax-exempt market saw a bifurcation this week with demand in the primary and less enthusiastic trading in the secondary.

Trading of Puerto Rico Highways and Transportation Authority bonds continued to weaken Friday afternoon as traders noted default scares also spread to other bonds within Puerto Rico.

Puerto Rico Highways and Transportation Authority bonds traded weaker Friday morning following reports the Authority may default on its bonds as early as next week.