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Volume was robust last week, with a nearly $20 billion new-issue calendar, and while supply dips to $13 billion this week, it will end up higher thanks to four sizable prepay energy deals that priced on Monday and Tuesday.
June 9
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Four deals were on the day-to-day calendar, "playing it close to the vest, and all of a sudden, boom, they all get done," said Pat Luby, head of municipal strategy at CreditSights.
June 9
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Issuance continues to drive performance in the muni market. Despite Friday's run-up in USTs, muni yields adjusted "less dramatically," said Ajay Thomas, head of public finance at FHN Financial.
June 8
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The developer faces no penalties from the missed interest payment.
June 8
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The $1.2 billion deal, issued by the California Community Choice Financing Authority and underwritten by Goldman Sachs, saw Alphabet as its funding recipient.
June 8
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While muni primary supply falls this week, it is still robust. Issuance is an estimated $11.541 billion this week, with $8.501 billion of negotiated deals on tap, according to LSEG.
June 8
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The muni market's strong performance in May and so far in June has been in line with historical trends, Mikhail Foux wrote for Barclays — but historical trends suggest the market will lose steam soon as supply builds.
June 5
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"My 10 years at Academy Securities building out the municipal platform while mentoring military veterans has been the highlight of my career," Kolman said.
June 5
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Market Intelligence analyst Jeff Lipton recaps May's muni outperformance versus Treasuries and broad fixed income, highlighting how carry, reinvestment demand and spread compression drove strong returns and helped A3 and Baa credits lead the market.
June 5
The Bond Buyer -
On the primary market, some deals are oversubscribed and others sent back to the drawing board.
June 5
