State of Texas

New York City’s water authority kicked off the week by offering bonds to individual investors on Monday.

With plenty of cash looking to go to work, investors are not loving the calendar or what small allocations they will be allotted as we draw near the end of tax season.

Municipals were firm on Thursday as the last of the week’s deals hit the market

The state collected $2.6 billion, a 9% increase over the same month of 2018, said State Comptroller Glenn Hegar.

Focus remained on the municipal primary as more supply swept into the market on Wednesday.

The municipal bond market is facing $100 billion of municipal bond redemptions and implied reinvestments.

Municipal bond volume will fall to $5.5 billion in the upcoming week, with green deals from Illinois and Arizona.

After two months of gains from 2018 levels, municipal issuance sank 7% from March last year as the loss of advance refundings continues to take a toll.

Connecticut’s GOs hit the market on Thursday as municipal buyers snapped up the last of the week’s sizeable deals.

The tax-exempt part of the big Connecticut deal was offered to retail Wednesday as munics continued to rally.

Deals from the NYC TFA, Chicago, Illinois, California, Maryland and Miami-Dade County help satisfy demand.

Muni rates and ratios have benefited from macro themes driving rates lower, according to a report released Monday.

Municipal bonds remained stronger on Thursday as deals from Indianapolis and California issuers came to market.

In the primary, Academy Securities priced the Calif. Veterans Affairs deal for retail investors on Wednesday.

Municipal bond market participants will be waiting for the Fed's decision on rates and the look ahead.

The calendar leaves much to be desired for investors, as the week only brings $2.4 billion of new deals.

Munis have been grooving along but next week will bring tiny issuance, less than $3 billion, along with a Federal Open Market Committee meeting.

A few remaining deals trickled into a stagnant, steady market, as the SALT effects have impacted the seasonality typically associated with tax season.

Municipal bonds held firm Wednesday as deals swarmed into the market from issuers in Virginia, New York and Texas.

The Fed is now estimating household ownership of munis at market value instead of book or face value and has restated historical ownership.