New York City Transitional Finance Authority

Rich ratios focus buyers' eyes on a primary market that simply doesn't have enough supply to keep up with demand.

It is most certainly an issuers' market as rates are low, credit spreads continue to tighten, money pours into municipal bond mutual funds at record levels and a net negative supply of more than $11 billion.

Returns of all the investment grade options "pale in comparison to those for municipal high-yield," which should bolster Texas gas and Chicago public schools deals.

Taxables march on while ICI reports billions of inflows and secondary trading shows long-end strength.

Municipal bonds were steady to stronger on Tuesday. Taxable issuance continues its record growth, putting overall issuance on pace to be the largest year on record.

Municipals were in a holding pattern ahead of this week's $15.8 billion new-issue slate as issuers pour debt into the market and investors remain cautious ahead of election results.

Municipals held firm Friday as the market gets set for another week of hefty supply. Citi anticipates $550 billion in 2021, led by surge in taxable issuance.

Municipals finished little changed Wednesday as a hefty slate of new deals came to market.

Municipals were mostly unchanged with a firm tone on Tuesday, according to market participants, ahead of the week's large new-issue calendar that's heavy on taxables.

Municipal bond issuers are coming market at a 26.2% faster pace than they were at this point last year.