The Treasury Department Tuesday sold $25 billion 14-day cash management bills, dated Sept. 1, due Sept. 15, at a 0.075% high tender rate.
The bid to cover ratio was 3.68.
The coupon equivalent was 0.076%. The price was 99.997083.
The low bid was 0.040%. The median bid was 0.065%. Tenders at the high were allotted 62.25%.
Tenders totaled $91,950,000,000 and the Treasury accepted $25,000,250,000, including no non-competitive.
Munis got a bit oversold on Thursday, SWBC's Chris Brigati said. Next week's lighter calendar and FOMC meeting should help stabilize the market.
KeyBanc Capital Markets will price for the Ohio Water Development Authority $160.1 million of water development revenue and revenue refunding bonds on Tuesday.
"We look forward to receiving stakeholder comments, which will inform our proposal and next steps in modernizing this important segment of the municipal securities market," MSRB's Ernesto Lanza said.
The new rules governing low-income housing tax credits and private are already affecting the development of affordable housing.
The company has completed construction contract negotiations, which a bondholder said provides cost certainty and allows the company to focus on raising full financing.
The incoming Bond Buyer Hall of Famer combined legal training, investment banking and financial advisory experience to solve complex financings — and used that range to help develop the industry's next generation.
