State of California

The municipal bond market saw more supply hit the screens on Wednesday, topped by New York City’s big general obligation bond offering.

New York, Wisconsin and California issuers priced bonds as investor demand continued to support municipal debt, analysts and traders said. Deals ran the gamut from high-grade to high-yield.

Led by issuers in New York, Minnesota and Michigan, municipal bond buyers saw more supply head their way on Tuesday.

The early birds caught New York City general obligation bonds, as RBC priced an $810 million offering to retail buyers to start a busy primary week.

The market is prepping for $7.5 billion of new paper that is set to hit the market, as more than $50 billion in August redemptions free up cash to buy bonds.

The market was quiet on Friday ahead of a $7.5 billion new issue calendar as more than $50 billion in August redemptions frees up cash to buy bonds.

Municipal bond buyers will get to see a larger than average new issue slate.

Municipal bond buyers saw the last of the week’s new issue supply get put away as the market’s gaze turns to next week’s volume.

Puerto Rico issues rallied on a restructuring agreement for the power company, while municipal bond buyers saw some new supply head their way.

For the first time this year, the municipal bond market generated more volume than it did in the same month of 2017, as July issuance edged 1.3% higher.