Primary bond market

Gov. Paul LePage's post-pricing intervention to block the closing of $113 million of GO bonds may increase Maine’s future borrowing costs.

Municipal bonds were little changed on Monday as supply concerns prompted Bank of America Merrill Lynch to cut its 2018 forecast to $365 billion of issuance.

Bank of America Merrill Lynch has revised its forecast for yearly municipal bond volume down to $365 billion.

Municipal buyers expect the city of Los Angeles to hit the market running as it plans to competitively sell almost $1.9 billion of notes and bonds.

Municipal buyers will see a $5.3 billion new issue calendar next week, with the biggest deals coming out of Los Angeles.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.99% from 4.00% the week before.

Municipal bonds held onto gains as buyers saw two big deals come to market on Thursday.

Municipal bond buyers were seeing the last of the week’s big sales come to market as munis were stronger in quiet secondary activity on Thursday.

Municipal bonds were stronger on Tuesday as California’s $1.7 billion tobacco bond deal received $15 billion in orders.

Municipal bonds were stronger on Tuesday as California’s big tobacco bond deal was priced for institutions.

Morgan Stanley won the auction for both tranches of $261 million of debt.

Municipal bonds were ending stronger on Tuesday as several large, high-grade deals led by Georgia and Denver swept into the market.

Municipal bonds were stronger on Tuesday as several large deals swept into the market.

Municipal bonds held firm on Monday ahead of the week’s two biggest deals on opposite ends of the credit spectrum.

Georgia used an internet presentation and an investor platform to highlight its credit strengths before its annual general obligation bond sale.

Municipals were mostly stronger at mid-session, as the market waits for the start of the week’s moderately sized new issue calendar.

Denver will combine a current refunding with the first sale of new bonds approved by voters last November.

Buyers of municipal bonds will see a sale this week that offers some high yields in return for taking on some additional risk not usually associated with typical deals. California’s Golden State Tobacco Securitization Corp. is issuing a $1.7 billion tobacco bond deal consisting of serials and turbo terms.

Municipal bond buyers are looking with anticipation at the week’s calendar and the arrival of a big California tobacco bond deal.

Ipreo estimates weekly municipal volume at $7 billion, up from a revised total of $6.76 billion this week.