The municipal market served up a hot feast Tuesday as a banquet of new supply met a hungry investor base that’s flush with reinvestment cash and anxious to buy before the primary goes on holiday.

And the subsequent feeding frenzy didn’t let up until the benchmark muni yield fell below its Treasury equivalent for the first time in more than three months.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.