Primary bond market

Municipal underwriters saw increased business, as demand for muni bonds jumped through the roof. Top muni underwriters accounted for $267.51 billion in 7,310 deals, up from $239.33 billion in 6,406 transactions in the first nine months of 2018.

Taxable bonds are spiking with the lack of advanced refundings; Green bonds also take the spotlight.

The municipal market continues to flex its muscles even as the U.S. economy seems to be slowing, which could lead to an even flatter yield curve.

The Big Apple was a big presence in the market on Thursday as it sold almost $1 billion of taxable and tax-exempt general obligation bonds.

Municipal bonds were on the move Wednesday as two big issuers came to market with over $1 billion of transportation bonds.

The $125 million deal is the first piece of a five-year plan to sell $1.3 billion of Garvees.

The city will hold a retail order period Wednesday for its general obligation bonds, followed by final pricing Thursday.

Muni yields were mixed as weak economic data pressured Treasuries and stock prices.

The college, using the state of Ohio as its conduit issuer, will price $49 million of bonds.

Another big week is in store for investors with a $1B NYC deal waiting in the wings.

Oakland Park will issue green water and sewer refunding bonds that carry S&P Global Ratings’ highest Green Evaluation score of E1.

The Lower Colorado River Authority will price $169.5 million of revenue bonds.

Municipal bond volume continues to accelerate, closing out the month of September 39.1% higher and the quarter 17.8% higher than a year earlier, as issuers flocked to market with taxable deals.

New issuance is up by about $21B over 2018, but still lags previous years.

As we enter the fourth quarter, municipals continue their remarkable performance with the market continuing to follow trends of demand outstripping supply and inflows into the asset class.

Wells Fargo & Co. has named Charles Scharf to be its new chief executive officer.

Hard on the heels of SEC adoption of Rule 6c-11, Intercontinental Exchange said it would launch ETF Hub to bring greater efficiency to the ETF primary.

Most of this week’s municipal bond deals were well received, according to Peter Delahunt of Raymond James.

Low taxable rates will allow the state to reap 10% present value savings while advance refunding $285 million of tax-exempt GO debt.

Volume should attain the lower bound of the estimates at $330 billion according to Eric Kazatsky, veteran municipal analyst and strategist. Positioning on the curve and selecting sectors with care will contribute to sound performance. John Hallacy hosts.