Secondary bond market

With under a $1 billion of bonds and notes selling this week, investors were looking beyond the week’s offerings — to fundamentals and performance.

Municipal bond buyers are taking a second look at new issues with 3% and 4% coupons against a backdrop of what has been a strong traditional preference for 5% bonds.

Municipal bond buyers will see a holiday-shortened week with little in the way of supply on tap.

Municipal bond buyers saw the last of the week’s new issues come to market on Thursday.

Buyers of short-term municipal paper were treated to over $1.5 billion of notes from a big California issuer on Wednesday.

Municipal deals flowed into the market on Tuesday, led by offerings from New York City, Ohio and Illinois issuers.

As expectations for a Fed rate cut grow, muni supply shrinks amid rising demand for bonds.

Heading into the midway point of 2019, munis continue to be in a good place and show no signs of slowing in terms of strong technicals.

A day after the Fed held rates, the market was “fatigued” on the long end, while the shortend saw improvement after a more dovish tone from the FOMC.

The Peach State hit the municipal market with a bevy of bond sales on Wednesday.