Southeast

Paying post-petition bond interest to an unsecured creditor during the archdiocese's Chapter 11 bankruptcy is unusual, attorneys say.

The strong demand amid a dearth of new municipal issuance by states and a reach for yield also allowed New Jersey to skip a planned taxable portion and officials announced it would not need to access the Fed's Municipal Liquidity Facility.

Light primary easily absorbed while secondary trading showed a steadier market as it closes for Veterans Day. Massachusetts announces $1.4 billion of GOs for next week.

Skanska and its Elizabeth River Crossings partner, Macquarie Infrastructure Partners, will sell the concession to an Abertis Infraestructuras S.A.-led venture.

Municipal yields rose as much as five basis points on the long end, but the losses were not as pronounced as UST. Light dealer inventories and scarce secondary trading let munis outperform Treasuries.

As the week drew to a close, municipal bond market participants looked ahead to a smaller-than-usual supply slate dominated by revenue bond deals.

TMI Trust agreed to a settlement that allows bondholders to be paid interest during the Chapter 11 case of the Roman Catholic Archdiocese of New Orleans.

Top-rated muni yields fell by as much as 10 basis points on the AAA curves on Wednesday the largest move better for the market since late April, early May. ICI reported $1.2B of muni bond fund inflows.

The Hampton Roads Bridge-Tunnel expansion is a "tailor-made" stimulus that will help offset the pandemic-spurred downturn, infrastructure experts say.