Markets

Munis should remain well bid until issuance picks up "dramatically," said Nuveen's Anders S. Persson and Daniel J. Close.

The authority is one of the few investment-grade U.S. issuers actively selling triple-tax-exempt paper.

CreditSights said states with the largest payments are Texas at $2 billion, Pennsylvania at $1.5 billion, South Carolina at $1.3 billion and California at $1.2 billion

Based in New York City, Ted Hynes has almost 40 years of experience in the fixed-income markets, the last 15 at Raymond James.

With a recent court ruling and higher interest rates in their favor, more issuers are likely call back their outstanding BABs using the extraordinary redemption provision.

The bonds are rated Aa2 by Moody's Investors Service, AA by S&P Global Ratings and Fitch Ratings and AA-plus by Kroll Bond Rating Agency. All four rating agencies have a stable outlook on the credit.

The week ahead boasts some big-name issuers and rare credits, which should provide interesting price discovery. The new-issue calendar totals $6.08 billion, with a larger competitive calendar coming in at $2.4 billion.

More organizations are planning bond sales, although technical factors related to the election may mean deals come early in the year.

The state has tapped JP Morgan and Wells Fargo as managers of the deal.

S&P cited budget pressures that have not been counterbalanced by new revenue growth when lowered the outlook on the city's BBB-plus rated GO bonds.