The primary calendar volume will retreat on Thursday with no deals scheduled for more than $50 million in either the long-term competitive or negotiated markets.
Not currently decided is a $400 million century bond for the Cleveland Clinic, which would become the first non-profit hospital to issue the rare century bonds.
Barclays, the lead manager on the deal, said Thursday morning it wasn't sure whether it would attempt to place the debt today. The deal is rated Aa2 by Moody's Investors Service. Cleveland Clinic last tapped the market in May 2013 for $62.65 million, in a two-part deal, according to the Municipal Securities Rulemaking Board's disclosure website, EMMA. The deal was priced to yield 4.04 on a 4% coupon in 2042, and 3.62% on a 5% coupon in 2042, according to EMMA.
The Treasury market tightened across the curve in morning trading on Thursday, with the two- and 10-year both strengthening three basis points to 0.54% and 2.51% respectively. The 30-year fell one basis point to 3.25%.
