City of New York, NY

Municipal bond traders are set to see the first of this week’s new deals hit the screens on Tuesday, led by deals from New York City and Tennessee issuers.

Top-quality municipal bonds ended weaker on Monday, according to traders, who were looking ahead to a $7.42 billion new issue slate dominated by deals from New York City and Maryland.

After a short week with slow and low volume, the primary municipal bond market with get a normal dose of issuance this week when there is cash to be put to work. Market participants' eyes will be on New York City, which is set to bring more than $1 billion.

Municipal bonds were weaker, traders said, as they look to the $7.42 billion new issue slate, headed by deals from New York City and Maryland.

Municipal bond traders were returning to their desks on Monday and looking ahead to the week’s $7.42 billion new issue slate, which will be dominated by big bond deals from New York City and Maryland.

Volume in the primary municipal bond market is expected to climb to a more normal level of almost $7.5 billion.

Since the Great Recession, the tech sector in New York has added over 57,000 jobs.

Top-shelf municipal bonds were stronger at midday, according to traders, who are looking ahead to next week’s new issue calendar, which is estimated to total $7.42 billion.

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