After a busy day Tuesday that saw most of the larger deals come to market, traders will be looking for a few more of the week's larger transactions to hit screens.
Secondary Market
Treasuries were weaker on Wednesday. The yield on the two-year Treasury rose to 1.25% from 1.23% on Tuesday, while the 10-year Treasury gained to 2.50% from 2.47%, and the yield on the 30-year Treasury bond increased to 3.09% from 3.06%.
On Tuesday, the 10-year benchmark muni general obligation yield rose five basis points to 2.37% from 2.32% on Monday, while the yield on the 30-year GO increased three basis points to 3.12% from 3.09%, according to a final read of Municipal Market Data's triple-A scale.
On Tuesday, the 10-year muni to Treasury ratio was calculated at 96.0% compared to 95.5% on Monday, while the 30-year muni to Treasury ratio stood at 101.9%, versus 102.0%, according to MMD.
MSRB: Previous Session's Activity
The Municipal Securities Rulemaking Board reported 45,979 trades on Tuesday on volume of $10.87 billion.
Primary Market
Raymond James is expected to price Santa Barbara County, Calif.'s $145.065 million of solid waste system revenue certificates of participation, which will feature alternative minimum tax, non-AMT, and taxable and taxable clean energy bonds. The deal is rated A3 by Moody's Investors Service and AA by S&P Global Ratings.
Morgan Stanley is scheduled to price West Valle-Mission Community College District, Calif.'s $119.815 million of general obligation refunding bonds.
Bond Buyer Visible Supply
The Bond Buyer's 30-day visible supply calendar decreased $2.99 billion to $6.77 billion on Wednesday. The total is comprised of $2.33 billion of competitive sales and $4.44 billion of negotiated deals.
