The municipal market was mostly flat Thursday as the New Jersey Transportation Trust Fund Authority came to market with $1.5 billion of debt, including $1 billion of taxable Build America Bonds.
“I think sluggish is a good word for the secondary right now,” a trader in New York said. “There aren’t a whole lot of folks really inspired to get anything done. The bid side is decent, but we’re just flat on the whole. I’m not really seeing any change in the scale whatsoever.”