Top shelf municipal bonds were weaker at mid-session, according to traders, ahead of a hefty new issue calendar for a holiday-shortened week. Markets will be closed on Monday for the Rev. Martin Luther King, Jr. holiday.
Ipreo estimates volume for the week at $8.9 billion, up from a revised $8.2 billion of supply in the prior week, according to updated figures from Thomson Reuters. The calendar is composed of about $7.4 billion of negotiated deals and around $1.5 billion of competitive sales.