New York State Dormitory Authority

Caution is the watchword in the municipal market on Wednesday as participants await details of the Federal Reserve's monetary policy meeting.

Municipal bonds were mixed in late trading on Tuesday as several large deals hit the screens, led by issuers in New York and Maryland.

Tuesday opened with a positive tone in the municipal bond market with a forecast of heavy demand and strong technicals going into the reinvestment season.

Munis were stronger Monday as bond buyers kept an eye on the Federal Reserve policy makers' meeting.

An expansion of “backdoor borrowing” in the new New York State budget raises transparency red flags, according to Comptroller Thomas DiNapoli.

Municipal bond buyers are awaiting this week’s new issue supply as they keep both eyes firmly on the Federal Open Market Committee’s monetary policy meeting.

Weekly municipal bond volume will be down with the Federal Open Market Committee set to meet, though no interest rate increase is expected.

The municipal bond market will see a light new issue calendar next week as the Federal Reserve meeting on monetary policy puts a damper on new debt issuance.

The nation’s largest municipal bond conduit issuer is expanding a program that funds upgrades with future energy savings.

Municipal market volume will rise by two-thirds to $7.45 billion in the coming week, led by a $2 billion taxable deal from California.