The municipal market was again quiet and largely unchanged yesterday, in light activity, although several of the week's largest scheduled transactions were priced in the primary market.In the new-issue market yesterday, New Jersey competitively sold $1.9 billion of tax and revenue anticipation notes to JPMorgan with a net interest cost of 0.54%. The bonds mature in June 2010, yielding 0.53% with a 2.5% coupon. The credit is rated MIG-1 by Moody's Investors Service and F1-plus by Standard & Poor's.
Barclays Capital priced $750 million of tax and revenue anticipation notes for the Los Angeles Unified School District. The Trans mature in Aug. 2010, yielding 0.62% with a 2% coupon. The credit is rated MIG-1 by Moody's and SP-1-plus by Standard & Poor's.