Markets

The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 1.240% high yield, a price of 99.903556.

Seth Magaziner said the session with Moody's, Fitch and S&P representatives enhanced transparency.

The Small Business Optimism Index rose 3.7 points to 107.5 in November, the National Federation of Independent Business reported on Tuesday.

The municipal bond market will continue to see supply flood in, with several large deals set for Tuesday including the University of California and the New Jersey Turnpike's bond offerings.

The producer price index rose 0.4% in November after gaining 0.4% in October, the Labor Department reported on Tuesday.

The deal includes $524 million to refund outstanding debt.

Top-rated municipal bonds weakened as much as 8 basis points on Monday as the first of the week’s big offerings hit the screens, led by Connecticut’s competitive sales and the University of California’s negotiated deal.

The Treasury Department auctioned $44 billion of 13-week bills at a high yield of 1.320% on Monday.

The Treasury Department auctioned $20 billion of re-opened 10-year notes with a 2 1/4% coupon at a 2.384% high yield, a price of 99.820844.

With another $20-plus billion on the docket, it's expected to be another frenzy-filled week in the municipal primary market. Issuers continue to sprint to market ahead of the looming tax bill that will alter the market’s landscape. Investor demand won’t be short either, as both traditional and crossover buyers will be fighting for allocations.