NEW YORK — The municipal market has been slow to give direction Tuesday morning. That could change later in the day if there is ample retail interest in the $980 million of California Department of Water Resources power supply revenue bonds.
But for now, there has been some interest on the short end of the yield curve. Some large institutional money managers also have a few bid-wanted lists in the market. But it’s too early to say if it’s having an effect, a trader in New York said.