State of California

It was a big day for the municipal bond market as billions of dollars of new deals hit the screens.

Issuers jump into the market as yields remain near record low levels.

With supply looking up, traders and analysts expect new issues to be well absorbed even if Treasuries correct futher.

The Chicago Public Schools also came to market with a $349 million GO deal.

California's $2.4 billion GO deal was priced for retail investors on Wednesday.

California's Legislative Analyst's Office wants state lawmakers to have a framework to evaluate cash borrowing proposals.

A pre-marketing scale was released on California's $2.3 billion GO deal.

It's the first week after Labor Day and investors are facing a hefty calendar with some big names.

The market will see $7.6 billion of bonds plus a $1 billion note sale coming up in a holiday-shortened week.

Volume bounced back from second lowest monthly total of the year in July as yields plunged to historic lows and issuers came out in droves.