Primary bond market

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.

IHS Markit's agreement to buy Ipreo from Goldman Sachs and Blackstone private-equity funds is a milestone in the technological evolution of the municipal bond and fixed income markets.

The municipal bond market is seeing a second wave of new issue supply hit the screens on Tuesday, led by deals from California and West Virginia issuers.

Material improvements in spending flexibility led Fitch to give Alabama’s most populous county a two-notch upgrade.

Municipal bond buyers are getting what they need this week — more supply.

Rising short-term rates and a lower corporate tax rate have already pushed some municipal issuers out of bank loans and back into the traditional muni space, analysts said.

Coming off the primary market's most robust week of issuance this year, investors will see more than $6 billion hit the calendars this week – with almost a third of that issuance coming from one well-known California issuer.

Action in the municipal bond market got underway on Monday as two big deals hit the screens in early activity.

In the first tranche of its $800 million sale, West Virginia says residents will get an opportunity to invest in the state.

Municipal volume will sink to $6.36 billion, with the California issuer responsible for a third of the week’s paper.

The district priced debt Thursday at narrower spreads than it faced in a November sale.