Most of The Bond Buyer’s weekly yield indexes declined slightly this week, as some firmness continued to permeate a mostly unchanged municipal market.
“Right now, we’re seeing a firmer market, and deals are getting done,” said Howard Mackey, president of the broker-dealer division of Rice Financial Products. “I think the market is firm because there’s still a lot of demand for paper. We see it in the secondary. The real problem is finding bonds right now, so I think the new-issue market can get done at very good spreads at this point.”