Markets

The Dormitory Authority of the State of New York is prepping another large bond deal as part of a busy 2017 for the conduit issuer.

Top-shelf municipal bonds were stronger at midday, according to traders, who are looking ahead to next week’s $9.92 billion new issue calendar.

Municipal bond traders on Friday are looking ahead to next week’s new issue calendar, which has a hefty number of competitive and negotiate bond offerings slated for sale.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was higher to 4.01% from 3.98% last week.

Top quality municipal bonds ended mixed on Thursday, traders said, as the market saw the University of Virginia come to market with a 100-year taxable bond offering.

Strong demand was reported for the $68.3 million transaction.

The Treasury Department sold $11 billion of reopened 10-year Treasury Inflation Protected Securities at a 0.450% high yield.

A new financial recovery plan was submitted to the Federal Transit Administration.

Top quality municipal bonds were mixed at md-session, traders said, as the market prepares for a few big deals as activity winds down ahead of next week’s more robust slate.

Just two weeks after announcing 19 hires to bolster its public finance roster, UBS Wealth Management Americas announced another new addition in Andrew Nakahata.