The tax-exempt market had no trouble handling the large supply that came in the primary Wednesday. Deals were oversubscribed even as a large deal was priced a day ahead of schedule.
“Deals are still over subscribed this week,” a New York trader said. “There is still very strong interest. It’s the typical story of: you put your order in, it’s oversubscribed, you get bumped, and then you don’t get the allocation that you want.”