NEW YORK — The municipal market closed an otherwise solid week with a whimper of light activity. But that’s because it was steeling itself for next week’s bang of anticipated new issuance.
“Next week’s calendar is unusually heavy,” a trader in Chicago said. “There’s no reason to chase the market on a Friday. A lot of people feel they can wait until next week. There’s a fair amount of money out there to be spent. So next week, we’ll see some robust activity.”