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.
Municipal bond traders are looking to see an average sized new issue slate price into the market this week as they eye yields which have been little changed as of late.
Top-shelf municipal bonds were flat at midday as traders take a break from the primary on Friday to look ahead to next week’s new issue slate. an estimated $6.82 billion.
Municipal bond traders are taking a break from the primary on Friday to go through the long list of deals that priced this week and put them into their order books.
In the week ended June 22, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index was unchanged from 4.04% the previous week. The BB40 Index is based on the price of 40 long-term bonds.
Top-rated municipals bonds finished mixed on Thursday, traders said, as several big deals from California issuers were closing out the week’s new issue slate.
Top-rated municipals bonds were mixed at mid-session, traders said, as several big deals from California issuers were closing out the week’s new issue slate.
UBS Wealth Management announced its newest addition to its growing public finance business, as Angela Schmidt will come aboard after 19 years at JP Morgan.
