Primary bond market

Top-rated municipal bonds were weaker at mid-session, according to traders, who saw deals from New York City and Philadelphia hit the market.

After a busier-than-usual Monday, municipal bond traders will pick up right where they left off, with New York City and the Port of Seattle among the issuers coming to market.

Top-shelf municipal bonds finished Monday unchanged on a businer-than-usual Monday, as a few deals priced for retail and for institutional investors.

New York Metropolitan Transportation Authority’s intended $500 million offering of transportation revenue bonds will be on the day-to-day calendar amid the authority’s wave of derailments, signaling malfunctions and track fires.

Top-shelf municipal bonds were steady around lunchtime, as muni traders are seeing a busier than usual Monday with a few deals pricing for retail and for institutional investors.

Although total weekly volume is expected to be low, municipal bond traders will start the week running, with a few deals expected to price on Monday.

The drop in issuance comes despite a decline in yields over the past week that made the market issuer-friendly.

Assured Guaranty and Orrick, Herrington & Sutcliffe LLP expanded their business even as muni volume shrank amid political uncertainty.

Moody's Investors Service cited underperforming revenues and low pension funding levels.

Top shelf municipal bonds were stronger at mid-session, according to traders, who are looking ahead to next week’s smaller-than-average new issue calendar, which Ipreo estimates at $4.24 billion.

Municipal bond traders on Friday are already looking ahead to next week’s smaller-than-average new issue calendar, which will be topped by New York City’s big general obligation bond sale.

In the week ended July 20, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell six basis points to 4.05% from 4.11% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Top-rated municipal bonds ended stronger on Thursday, traders said, as investors snapped up debt from the Tar Heel state.

Top-rated municipal bonds were stronger at midday, traders said, as North Carolina competitively sold more than $550 million of bonds.

Bingham's 35-year muni career includes US Bancorp, Société Générale and Wachovia.

Municipal bond traders will be seeing the last of this week’s larger deals come to market on Thursday, with North Carolina competitively selling more than $550 million of bonds in a single offering.

Top-quality municipal bonds ended stronger on Wednesday, according to traders, as deals from Virginia and Georgia issuers hit the market.

The lockbox provision could allow issuers to borrow at higher ratings, but may punish existing bondholders.

Top-quality municipal bonds were stronger at mid-session, as deals from Virginia and Georgia issuers hit the market on Wednesday.

Municipal bond traders will be seeing more deals come their way on Wednesday with competitive sales from a Virginia issuer and a negotiated deal from Georgia.