Primary bond market

The primary muni market is set another busy week with $10 billion in new paper, as one deal from Illinois accounts almost half of the negotiated calendar.

The Illinois borrowing pitch highlights “improving” credit fundamentals and its position as the Midwest “powerhouse.”

Municipal bonds were weaker at mid-session, according to traders, who are looking ahead to the next week's $10 billion new issue slate, which will be dominated by Illinois's $4.5 billion general obligation bond offering.

Municipals are little changed in early activity as the market gets ready to take on the biggest deal of the year — next week’s $4.5 billion Illinois general obligation bond offering.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.98% from 4.02% last week.

Municipals finished mixed in secondary trading on Thursday as a spate of transportation deals hit traders' screens.

The firm's win on a competitive California GO deal underscores efforts to keep its hand in the new-issue business.

Municipals were mixed in secondary trading at midday as the primary saw several big transportation deals hit the screens.

The municipal bond market will be focused on transportation issues on Thursday as the last of the week’s big competitive sales hit the screens.

Municipal bonds finished mixed in trading on Wednesday as issuers in New York and Massachusetts came to market.