Markets

California will appeal to international investors when it prices $1.2 billion of taxable GOs

Municipal bonds ended narrowly mixed on Monday, ahead of the start of the week's scheduled $6.82 billion of new issuance, traders said.

Fitch upgraded Children's Hospital Medical Center of Akron.

Municipal bonds were stronger at mid-session, according to traders, who were eyeing declining muni yields as they await the start of the week’s new issuance. Muni volume is estimated at $6.82 billion this week.

Craig Brothers is among fund managers who are sticking with a shorter duration core strategy as the market awaits the Federal Reserve Board’s June decision on rates.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were lower, as the three-months incurred a 0.820% high rate, down from 0.825% the prior week, and the six-months incurred a 0.945% high rate, down from 0.950% the week before.

The Treasury Department said Monday it will sell $55 billion of four-week discount bills Tuesday.

Confidence among U.S. home builders cooled in April after jumping a month earlier to the highest level since mid-2005, according to data Monday from the National Association of Home Builders/Wells Fargo.

Municipal bond market participants are returning to work after the long holiday weekend. Traders will be eyeing declining muni yields as they await the start of the week’s new issuance.