Primary bond market

Triple-A yields rose more than three-quarters of a point on the front end and nearly half a point out long in September as munis posted 3.84% losses.

For the first three quarters, total issuance sits at $308.440 billion, down from $361.932 billion in 2021. Taxables are down 48.0% to $45.724 billion from $87.979 billion.

Upon integration, the Lumesis DIVER product suite will provide additional municipal asset class workflow, analytics related to price transparency, and regulatory-related solutions to SOLVE'S Market Data Platform.

In the competitive market Thursday, the New York Urban Development Corp. sold $1.443 billion of tax-exempt personal income tax revenue bonds.

The state spreads landed wide compared to a May sale, but remained far narrower than early in the pandemic and during the state's two-year budget impasse.

A larger new-issue slate led by large deals from the Texas Water Development Board and state of Illinois took focus away from the secondary.

Elevated secondary selling pressure on Tuesday forced more losses. Triple-A yields rose by as many as seven to eight basis points across the curve, moving the entire triple-A curve above 3% and the 30-year a dozen basis points shy of 4%.

The tool provides summaries of outstanding debt, maturity profiles, and debt service schedules for the entire public finance market and is an outgrowth of the company's legacy Debt Maps.

Bids wanteds have been elevated, municipal bond mutual fund outflows large and consistent and the short end of the U.S. Treasury curve continues its march upward, moves that muni investors cannot ignore.

Guilford County's request for a $1.7 billion voter-approved bond package, however, was put on hold until the next Local Government Commission meeting.