The biggest deals in the municipal bond market priced for retail Tuesday and while traders were focused on the primary market, most of the attention went to a firmer Treasury market as Cyprus woes continued.

“Basically you see the 10-year Treasury going below 1.90% so pretty much it’s the same game and everyone is following the Treasury run-up,” a New York trader said.

A second New York trader agreed. “The market is firmer today,” he said.

And while European woes and a subsequently stronger Treasury market took the attention of traders, the primary market also competed for a moment’s attention.

“We are all looking at the primary,” the first New York trader said. “Institutions have money and they are involved. Retail is still quiet. There are not a lot of believers but it’s almost as if they are forced to participate.”

He added that the market feels one basis point stronger, but only because of Europe. “We were getting weaker then bang, Cyprus happens and here we are.”

JPMorgan priced for retail $1.4 billion of New Jersey Turnpike Authority turnpike revenue bonds, rated A3 by Moody’s Investors Service, A-plus by Standard & Poor’s and A by Fitch Ratings.

Yields ranged from 0.74% with a 3% coupon in 2016 to 4% priced at par and 4.14% with a 4% coupon in a split 2043 maturity. Bonds maturing between 2027 and 2032 were not offered for retail. The bonds are callable at par in 2022 except for bond maturing in 2023.

“The New Jersey deal did OK,” the first New York trader said. “That looks attractive. It’s the magic of the 4% coupons and New Jersey also has not had a ton of supply.”

Wells Fargo Securities took retail orders for a second day on $900 million of New York City Transitional Finance Authority tax-exempt, future tax-secured subordinate revenue bonds, rated Aa1 by Moody’s and AAA by Standard & Poor’s and Fitch. Institutional pricing is expected Wednesday.

In the second retail order period Tuesday, yields on the first series, $650 million of tax-exempt subordinate bonds, ranged from 0.54% with a 4% coupon in 2016 to 3.83% with a 4% coupon in 2039. Bonds maturing in 2015 were offered via sealed bid. Credits maturing between 2025 and 2030 were not offered for retail. The bonds are callable at par in 2023. Yields were lowered as much as three basis points from the first retail pricing Monday.

Yields on the second series, $72 million of future tax secured tax-exempt subordinate bonds, ranged from 0.44% with a 4% coupon in 2015 to 2.91% with a 5% coupon in 2028. Credits maturing in 2013 and 2014 were offered via sealed bid. The bonds are callable at par in 2023. Yields were cut as much as four basis points from the first retail pricing Monday.

Yields on the third series, $178 million of future tax secured tax-exempt subordinate bonds, ranged from 0.44% with a 4% coupon in 2015 to 3.42% with a 3.25% coupon in 2031. Credits maturing in 2014 were offered via sealed bid. The bonds are callable at par in 2023. Yields were cut as much as four basis points from the first retail pricing.

Barclays priced and repriced $437.3 million of State Public Works Board of California lease revenue bonds following a retail order period Monday. The bonds are rated A2 by Moody’s, A by Standard & Poor’s, and BBB-plus by Fitch.

Yields on the first series, $344.6 million of lease revenue bonds for the Judicial Council of California, ranged from 1.01% with a 3% coupon in 2017 to 4.00% with a 5% coupon in 2038. The bonds are callable at par in 2023. Yields were lowered as much as 10 basis points from preliminary pricing after yields had already been cut as much as four basis points in retail pricing.

Yields on the second series, $15.4 million of lease revenue bonds for the Department of Corrections and Rehabilitation, ranged from 0.40% with a 3% coupon in 2014 to 3.91% with a 3.75% coupon in 2028. The bonds are callable at par in 2023. Yields were cut as much as seven basis points in repricing after yields were already lowered as much as three basis points on maturities inside 2022.

The third series, $77.3 million of lease revenue bonds for the Regents of the University of California, were rated Aa2 by Moody’s, AA-minus by Standard & Poor’s and AA by Fitch. Yields ranged from 0.81% with a 2% coupon in 2017 to 3.68% with a 5% coupon in 2038. The bonds are callable at par in 2023. Yields were increased two basis points on the 2038 maturity on repricing and were raised four basis points from retail pricing on bonds maturing outside of 2025.

In the competitive market, Citi won the bid for $138.9 million of triple-A rated Howard County, Md., bonds.

Yields on the first series, $99.8 million of consolidated public improvement bonds, ranged from 0.20% with a 3% coupon in 2014 to 3.06% with a 4% coupon in 2033. The bonds are callable at par in 2021. The 5% coupons bonds maturing between 2016 and 2022 were priced right on the Municipal Market Data scale.

Yields on the second series, $39 million of metropolitan district project bonds, ranged from 0.20% with a 3% coupon in 2014 to 3.592% with a 3.5% coupon in 2038. The bonds are callable at par in 2021.

Yields on the MMD triple-A GO scale ended as much as three basis points lower. The 10-year yield fell three basis points to 1.94% while the 30-year yield dropped two basis points to 3.09%. The two-year finished flat at 0.31% for the 21st consecutive session.

Yields on the Municipal Market Advisors 5% coupon triple-A benchmark scale ended as much as two basis points lower. The 10-year yield fell one basis point to 2.00% while the 30-year yield dropped two basis points to 3.18%. The two-year held at 0.33% for the 16th session.

Treasuries were stronger Tuesday for the second session this week. The benchmark 10-year yield dropped four basis points to 1.95% while the 30-year yield fell five basis points to 3.14%. The two-year was steady at 0.25%.

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