State of California

The week’s new issuance got off to a slow start on Tuesday, but the Street is flush with cash and ready to pounce as the bigger deals price on Wednesday and Thursday.

In observance of Veterans Day, the bond markets were closed on Monday.

A day after a big correction, the White House sent mixed signals on Friday setting up a possible flight-to-quality for munis next week.

A powerful equity market whacked Treasuries and munis followed suit and as much as a 7 bp correction ensued.

Investors downed a deluge of munis in what so far is living up to the billing of the busiest week of the year.

Municipals weakened along with Treasuries as stocks surged amid good earnings reports and economic data.

Market attention turns to the taxable sector as some the week’s biggest deals are set to hit the screens.

After seeing a whopping $52 billion of new issuance in October, the new paper will continue to flood the market during the busiest week of the year.

With another fed funds rate cut in the books, munis saw a big drop in yields to close out the week and the month.

The volume boom accelerated in October, with taxables accounting for about a quarter of the supply.

Trade and geopolitical disruption will likely consume much of the policy narrative the rest of this week.

Tuesday saw bond sales come and go, the day before the Fed is expected to cut interest rates.

The deal led a rare burst of issuance for a Monday, with the start of the Federal Open Market Committee meeting set for Tuesday.

With interest rates likely to fall lower after Fed policy makers meet, already favorable market conditions for municipal issuers will get even better.

The issuance keeps pouring into the municipal market as muni fundamentals and interest rates drive demand.

The new wave of bond issuance continued unabated as more sales priced on Wednesday.

Massachusetts also came to market with a $1.4 billion sale of revenue anticipation notes in three offerings.

There's something for everyone on this week's primary calendar.

Although the supply/demand ratio is still lopsided, the recent surge had made things a little more balanced.

Gavin Newsom vetoed legislation that would have created a commission to study adopting a machine-readable format for the state's financial documents.