Markets

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.

The municipal bond market saw the first of the week’s big offerings hit the screens on Monday, led by Connecticut’s competitive sales and the University of California’s negotiated deal.

The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 7/8% coupon at a 1.932% high yield, a price of 99. 834636.

The Treasury Department auctioned $39 billion of 26-week bills at a high yield of 1.460% on Monday.

BondWave LLC, a financial technology firm focused on fixed income solutions, is bring on Pete Newman as vice president of sales.

The Treasury Department said Monday it will sell $45 billion of four-week discount bills on Tuesday.