Markets

Despite a slowdown in June, long-term municipal bond volume is ahead of last year's record-breaking pace with more than $231 million in six months.

Municipal bonds ended the week unchanged for the sixth consecutive trading session as inflows surged as more than $7 billion is headed to market next week.

An influx of investment into high-yield munis has created challenges for fund managers forced to compete against each other to get in on new bond offerings.

Municipals were unchanged for the fourth consecutive day this week amid slight Treasury strength as demand for yield continued.

Adovactes are hopeful a provision cutting in half the required PAB-financing for low-income housing projects will be in the upcoming reconciliation package.

Demand was brisk in the primary market while the short-term market traded sideways on the pressure from the heavy new issue calendar, the release of the FOMC minutes and Treasury auction.

The authority succeeded in selling unrated bonds to take out CCC-rated bonds.

The Puerto Rico Aqueduct and Sewer Authority sold $813 million of senior lien revenue bonds consisting of tax-exempt refunding, taxable refunding and forward delivery refunding bonds.

As New York City launched the first of its two-day retail order period on $1.039 billion of GO bonds, the market was uneventful ahead of $9.76 billion in the primary market this week

The House's powerful speaker will need to win the votes of moderates.