The tax-exempt market was driven by the primary market Wednesday as the week’s largest deal was priced for institutions. Outside the primary, traders said the market was flat.
All eyes turned to the primary market as the week’s largest deal priced for institutions. The Illinois Department of Employment Security issued $1.36 billion of unemployment insurance fund building receipts revenue bonds in two pricings. The credit is rated AA by Standard & Poor’s and AA-plus by Fitch Ratings.