Although market conditions are not pristine, with rising yields and little primary action, market participants expressed reason to believe the first week of February will be a positive one.
Top shelf municipal bonds were unchanged at mid-session as traders prepared for next week’s almost non-existent new issue calendar. Ipreo estimates volume at $130.4 million, down from a revised total of $6.02 billion sold this week, according to updated data from Thomson Reuters.
Top-quality municipal bonds ended weaker on Tuesday, according to traders, as the first of the week’s new supply lit up their screens, led by a big DASNY deal.
Top-quality municipal bonds were weaker at midday, according to traders, who were seeing the first of the week’s new supply light up their screens, led by the big DASNY deal.
Municipal bond traders are prepped for the week’s new supply to light up their screens on Tuesday, with the retail pricing of the big New York Dormitory deal on tap.
Top-rated municipal bonds were stronger at mid-session, according to traders, who were looking ahead to Tuesday when the first of the week’s new issues head into the market.
