Primary bond market

Municipal bond traders will see the bulk of the week’s new issue slate hit the screens on Tuesday, with the New York Metropolitan Transportation Authority’s green bond sale leading the way.

The underwriter is banking on strong demand for high-yield bonds.

Top-rated municipal bonds finished weaker on Monday, traders said, as the New York Metropolitan Transportation Authority offered almost $600 million of green bonds to retail buyers.

The Texas Water Development Board is planning the largest bond issue in its history as it also deals with the impact of Hurricane Harvey.

The Federal Open Market Committee meeting should produce a start date for balance sheet reduction and a new dot plot, but no rate hike.

Top-rated municipal bonds were weaker at mid-session, traders said, as the New York Metropolitan Transportation Authority offered almost $600 million of green bonds to retail buyers.

The municipal bond market is set for the start of the week’s smaller-than-average new issue calendar. Volume for the week is estimated at $4.72 billion, consisting of $3.71 billion of negotiated deals and $1.01 billion of competitive sales.

Weekly volume in the primary municipal bond market is expected to drop below $5 billion for the third time in five weeks.

Top-shelf municipal bonds were mixed at midday, according to traders, who are looking ahead to next week’s new issue calendar. Ipreo estimates total bond volume for next week at $4.72 billion.

Municipal bond traders on Friday are looking ahead to next week’s new issue calendar.

In the week ended Sept. 14, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index was unchanged from 3.98% from the previous week. The BB40 Index is based on the price of 40 long-term bonds.

New York City hit the market with negotiated and competitive sales totaling over $1 billion Thursday as top-rated municipal bonds weakened.

Municipal Bond Club of New York members were urged to "continue preaching" the benefits as Congress debates tax reform.

Top-rated municipal bonds were weaker at mid-session, according to traders, as New York City hit the market with negotiated and competitive sales totaling over $1 billion.

New York City will hit the market with negotiated and competitive sales on Thursday totaling over $1 billion.

Top quality municipal bonds finished weaker on Wednesday, traders said, as more large deals hit their screens.

Top-quality municipal bonds were weaker at mid-session, traders said, as the market is seeing more deals hit the screens.

The municipal bond market will see more deals hit the screens on Wednesday, led by a big Maryland competitive sale and a second day of retail orders for the New York City offering.

Top-rated municipal bonds ended weaker on Tuesday, according to traders, as the first of this week’s new deals hit the screens, led by sales from New York City and Louisiana.

The system reported strong investor demand for $350 million of taxable debt earlier in the week.