The municipal market was flat to slightly firmer Tuesday as the Empire State Development Corp. came to market with $467.3 million of debt, and 20-year tax-exempt yields dipped to an all-time low.

“We’re a little bit better, but there wasn’t a whole lot happening in the secondary,” a trader in New York said. “The vast majority of the attention today was on the primary.”

In the new-issue market Tuesday, the Empire State Development Corp. competitively sold $467.3 million of revenue refunding bonds to Citi, with a true interest cost of 1.42%.

The bonds mature from 2012 through 2017, with yields ranging from 0.95% with a 5% coupon in 2012 to 2.00% with a 4% coupon in 2017. Bonds maturing in 2012 were not formally re-offered.

The bonds, which are not callable, are rated AA-minus by both Standard & Poor’s and Fitch Ratings.

The Municipal Market Data triple-A scale yielded 2.32% in 10 years Tuesday, matching Monday, while the 20-year scale dipped one basis point to a new record low of 3.27%. The scale for 30-year debt yielded 3.68%, down two basis points from Monday’s 3.70%.

“We’re probably better a basis point or two on the long end,” a trader in Los Angeles said. “I’m not sure we’re any different on the short end.”

The previous 20-year low of 3.28% — originally set Aug. 31 — was matched Thursday, Friday, and Monday, before being surpassed Tuesday. Yields on the 10-year and 30-year triple-A scale bottomed out at 2.17% and 3.67%, ­

respectively Aug. 25.

Tuesday’s triple-A muni scale in 10 years was at 94.3% of comparable Treasuries and 30-year munis were at 100.8%, according to MMD, while 30-year tax-exempt triple-A general obligation bonds were at 113.2% of the comparable London Interbank Offered Rate.

The Treasury market mostly showed gains Tuesday. The benchmark 10-year note finished at 2.47% after opening at 2.53%.

The 30-year bond finished at 3.66% after opening at 3.72%. The two-year note finished at 0.44% after opening at 0.43%.

Elsewhere in the new-issue market Tuesday, Ramirez & Co. priced $269.7 million of taxable and tax-exempt debt for the Nebraska Public Power District, including $114.1 million of Build America Bonds.

The taxable BABs mature from 2020 through 2025, with term bonds in 2030 and 2043. Yields range from 3.98% in 2020, or 2.59% after the 35% federal subsidy, to 5.423% in 2043, or 3.52% after the subsidy, all priced at par.

The bonds are priced to yield between 150 and 225 basis points over the 10- and 30-year Treasury yields, and contain a make-whole call at Treasuries plus 30 basis points.

An $8.4 million taxable series matures from 2011 through 2020, with yields ranging from 1.03% in 2011 to 4.18% in 2020, all priced at par.

The bonds are priced to yield between 60 and 170 basis points over the two-, five-, seven-, and 10-year Treasury yields, and contain a make-whole call at Treasuries plus 30 basis points.

The $147.3 million tax-exempt series matures from 2011 through 2026, with term bonds in 2031. Yields range from 0.75% with a 4% coupon in 2012 to 3.96% with a 5% coupon in 2031. Bonds maturing in 2011 were decided via sealed bid. These bonds are callable at par in 2021.

The credit is rated A1 by Moody’s Investors Service, A by Standard & Poor’s, and A-plus by Fitch.

Citi priced $222.5 million of revenue refunding bonds for the Southeastern Pennsylvania Transportation Authority.

The bonds mature from 2011 through 2028, with yields ranging from 0.80% with a 2% coupon in 2012 to 3.77% with a 5% coupon in 2028. Bonds maturing in 2011 were decided via sealed bid.

The bonds, which are callable at par in 2020, are rated A1 by Moody’s, AA-minus by Standard & Poor’s, and AA by Fitch.

JPMorgan priced $218.2 million of power revenue refunding bonds for the Puerto Rico Electric Power Authority.

The bonds mature from 2019 through 2024, with yields ranging from 3.35% with a 3.3% coupon in 2019 to 3.70% with a 3.65% coupon in 2024.

Bonds maturing in 2023 and 2024 were backed by Assured Guaranty Municipal Corp. All remaining bonds were uninsured. The bonds are callable at par in 2020, except bonds maturing from 2022 through 2024, which are callable at par in 2015. The underlying credit is rated A3 by Moody’s and BBB-plus by both Standard & Poor’s and Fitch.

JPMorgan priced $180 million of transportation excise tax revenue bonds for the Arizona Transportation Board.

The bonds mature from 2011 through 2025, with yields ranging from 0.57% with a 3% coupon in 2012 to 3.22% with a 5% coupon in 2025. Bonds maturing in 2011 were decided via sealed bid.

The bonds, which are callable at par in 2020, are rated Aa1 by Moody’s and AA-plus by Standard & Poor’s.

Bank of America Merrill Lynch priced $153.1 million of special obligation bonds for Iowa.

The bonds mature from 2012 through 2030, with term bonds in 2034 and 2038. Yields range from 0.57% with a 2.5% coupon in 2012 to 4.01% with a 5% coupon in 2038. The bonds, which are callable at par in 2020, are rated Aa2 by Moody’s and AA by Standard & Poor’s.

Also, Morgan Stanley priced $115 million of revenue bonds for the Louisiana Public Facilities Authority.

The bonds mature in 2030, yielding 5.00% priced at par. The bonds, which are callable at par in 2015, are rated A3 by Moody’s and A-minus by Standard & Poor’s.

In economic data released Tuesday, the Conference Board’s consumer confidence index slipped more than economists anticipated in September, falling to 48.5 from 53.2 last month.

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