Primary bond market

As the last of the week’s larger new issues came to market, municipal bonds finished stronger on Thursday.

New money deals helped issuance rise for the third straight month in May.

Municipal bonds were stronger at midday, holding onto hefty gains made earlier in the week as the last of the week’s larger deals came to market.

Municipals participated in a safe-haven trade on Wednesday following the Treasury-led rally on Tuesday.

Municipal bonds on Wednesday added on to the gains made during Tuesday’s rally.

Municipal bond investors reacted cautiously to the rally in Treasurys as they looked for confirmation that the new yield levels are here to stay.

Intercontinental Exchange agreed to buy TMC Bonds for $685 million in cash just eight days after IHS Markit's deal to buy Ipreo.

While volume will be under $4 billion, strong demand should continue as the muni market is sound technically and investors are flush with cash. Investors are feeling bullish.

Municipal bonds were trading stronger Tuesday, with yields falling as much as five basis points, according to the MBIS benchmark scale.

The holiday-shortened week with the usual accompanying low issuance shouldn’t overwhelm demand, putting the municipal market in a good spot at midyear.

Municipal bonds were stronger ahead of Friday’s early close as the market will be greeted with $3.4 billion of new issue supply next week.

In the week ended May 24, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose to 4.02% from 4.00% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The $139 million refunding saved Alabama’s most populous county $12.35 million in debt-service costs.

The municipal market is grinding to a halt, as the long holiday weekend approaches, and market technicals are strong and should remain that way once everyone returns.

The covenant commits the state to four financial-restraint measures that lawmakers passed.

Municipal bonds were stronger in late trading as West Virginia and the Regents of the University of California came to market.

Water, wastewater, and securitization deals, and possibly an O'Hare airport sale, are still to come from Chicago this year.

Municipal bonds were stronger at mid-session as several big deals hit the market.

Franklin County will sell $250 million of tax-exempt, local government special tax revenue bonds.

West Virginia increased the amount of its competitive sales planned for Wednesday by almost 30% to save money.