Primary bond market

Municipals were a bit stronger on the long end Thursday as action heated up in the primary.

The state is easing a strict quarantine requirement that has left its all-important tourism industry with very few tourists.

Chris Brigati, managing director and head of municipal trading at Advisors Asset Management, talks with Chip Barnett about what investors can expect in the fourth quarter. He looks at interest rates, the economy and the presidential election and what’s in store in a post-pandemic world. (21 minutes)

Municipals finished little changed Wednesday as a hefty slate of new deals came to market.

The Alabama Public School and College Authority will issue nearly $1.5 billion of bonds and most of the deal will be tax-exempt new money.

Detroit is selling $80 million of its speculative grade-rated GO paper with more on tap should voters sign off on $250 million of blight borrowing.

Moody’s Investors Service revised the outlook on its Aa2 rating to negative ahead of the $96 million deal.

Municipals were mostly unchanged with a firm tone on Tuesday, according to market participants, ahead of the week's large new-issue calendar that's heavy on taxables.

The Kansas City Industrial Development Authority will price more than $600 million of bonds as the replacement of Kansas City International terminals advances.

Munis too a breather Friday after a week where yields rose by as much as 10 basis points on long-dated maturities.

Upfront savings from the $371 million deal will improve liquidity for the authority after the coronavirus-caused traffic downturn.

The airport will sell $925 million in a deal structured to lower short-run debt-service outlays as it manages through the coronavirus-driven air travel decline.

The Puerto Rico Aqueduct and Sewer Authority said it might be refinancing its bond debt with a new bond issue by the end of the year.

Recent toll hikes will offset a coronavirus-inspired drop in traffic and a refunding portion gives the authority "financial flexibility," according to analysts.

Municipal bond issuers are coming market at a 26.2% faster pace than they were at this point last year.

Financial advisors in the municipal bond market accounted for $281.23 billion so far in 2020, more than the $225.54 billion in the first nine months of 2019. The top three spots remained the same, followed by some changes in the rankings from last year.

Another week of inflows as reported by ICI and the municipal market continues to push on. There is money to put to work, sources say, depending on who is willing.

Long Island county prepping $290 million offering while confronting a giant revenue shortfall.

Michigan is selling $884 million of tobacco bonds that will refund prior issues.

Municipals weakened on Tuesday, with yields off by as much as three basis points.