State of California

Texas issues are headlining this week's slate of supply.

After a wild and crazy week that saw the yield curve invert for the first time in 12 years, recession talk, and record lows for muni yields — there was a much calmer tone on Friday.

The municipal bond market took a breather on Thursday as the last of the week’s larger deals came and went.

Municipal bonds continued their rally on Wednesday, and pushed tax-free yields to their lowest levels ever.

Deals from Texas and Virginia led the slate of new issues that hit the market on Tuesday.

Issuers and buyers will both be watching the direction bond yields take this week.

After effortlessly taking down $13.2 billion of bonds this past week, muni buyers will see another above-average issuance week with $7.6B.

The market picked up right where it left off on Wednesday — with unwavering demand from investors.

The bond market had no problems whatsoever digesting the primary and in the process saw yields drop down ever lower, getting ever closer to all-time lows.

The municipal bond market started to see supply come in, as a bunch of deals priced both on the negotiated and competitive sides. Today’s issuance was an appetizer for Wednesday, the main course that looks like it will be the busiest day of the year.