Primary bond market

California's largest-ever competitive taxable deal, which followed two upgrades, drew 10 or more bidders for each tranche.

The top municipal bond counsel saw $265.58 billion of business in the first three quarters of 2019, more than the $237.49 billion the firms did in the same period last year.

Supply surged into the municipal market on Wednesday with California and New York issues taking top spot.

The state will take competitive bids on $750 million of general obligation bonds next month.

The two active municipal bond insurers benefited from the issuance boom in the third quarter, as the industry penetration rate rose slightly despite the fact that interest rates are going back down.

Just in time for its $1.4 billion bond sale, California received a holiday present from Moody’s.

Coast to coast, issuers will sell billions of taxable bonds in a volatile market.

St. Louis-based Ascension Health Alliance will price up to $856 million through the Wisconsin Health and Educational Facilities Authority.

Rampant issuance continues with $12.4 billion, heavy on taxable deals. Meanwhile, the end of this volatile week had the secondary getting whacked with AAA benchmarks showing big cuts.

The authority is bringing $950 million of taxable bonds and $1.7 billion of tax-exempts.

Issuers from New York, Florida and Nebraska offered buyers notes, bonds and taxable deals.

Paul Malloy, head of municipals and credit research at Vanguard, tells why investors should take the long view to achieve relative value in munis as the year ticks on. Chip Barnett and Lynne Funk host.

Competitive issues dominated Wednesday’s calendar with issuers from Nevada, Texas and New Jersey leading the pack.

A large calendar this week should spark high demand, market participants say.

The deal allows the university to shed a master trust indenture and concentrate its debt under the University of Nebraska Facilities Corp.

Janna Chernetz, a senior policy analyst at the Tri-State Transportation Campaign, discusses how New Jersey Transit is working to fix the myriad of budgetary challenges that are facing the nation's third-busiest public transportation system. Andrew Coen hosts.

Most of the deal from Connecticut's largest city will be taxable, with the lion's share going to a pension fund.

This week's new deals will price into a market that has seen declining yields as stocks and Treasuries have weathered market volatility.

Following suit with the issuers and underwriters, top muni financial advisors were outpacing business done to this point last year with $224.84 billion, up from $206.93 billion. The first three spots in the rankings remained the same for the big players, as the rest of the field saw a bevy of changes.

Through three quarters municipal bond issuers are coming to market more frequently than they did during the same period of 2018, as low rates and yields are too good to pass up and demand for muni bonds is closing in on an all-time high.