Primary bond market

The new-issue calendar is at $9.7 billion the week, led by the Texas Transportation Commission with $1.7 billion of first-tier and second-tier revenue refunding bonds.

The sale reflects the strength and demand of New York state paper.

Municipal bond mutual funds saw inflows as investors added $891.4 million to funds after $775.3 million of inflows the week prior, according to LSEG Lipper.

Single party control of a state eases perception of bond default risk associated with laws like Chapter 9, a study found.

Issuance has remained robust over the past two weeks, with Wednesday being a particularly busy day.

Volume is predicted to continue at "robust levels," possibly through the fourth quarter, said Matt Fabian, a partner at Municipal Market Analytics.

The $238.8 million of voter-approved debt will end a 12-year drought in new money general obligation issuance by the nation's fifth largest city.

Financial markets are trying to "absorb" the outcome of higher odds of Trump winning in November, said James Pruskowski, chief investment officer at 16Rock Asset Management.

While the market awaits the initial FDTA proposal, some wonder if the rulemaking will be affected by the upcoming presidential election and the U.S. Supreme Court's Chevron decision.

Cabarrus County planned to use most of the proceeds to pay off a bond anticipation note.