Secondary bond market

The New York MTA is set to issue $50 million of variable rate revenue bonds on Clarity Bidrate Alternative Trading System, highlighting the uptick in usage of variable rate debt.

A large industrial revenue bond issue closed out the primary in a holiday-shortened week for the municipal bond market.

Demand for tax-exempt income overwhelmed the usual selling in the secondary market during tax season.

Munis are termed rich, but taxables still shine.

The muni market is winding down to a pause for the long holiday weekend and when the market opens back up Tuesday, big deals will be few and far between, but the market will continue its run.

The municipal bond market saw the largest Garvee bond deal so far hit the screens on Thursday.

Lawsuits accusing banks and broker-dealers of fraud in the variable-rate demand obligation market helped cement the decision to use the platform.

Municipal bond buyers saw a spate of large new deals hit the market on Wednesday.

Adding $374 million alleged in New York to the three other cases also filed by Johan Rosenberg brings the total damages claimed to $1.58 billion.

A spate of new deals came to market, topped by a New York State green bond deal and an offering from the Arkansas Development Finance Authority.

The ripple effects of Puerto Rico's bankruptcy may be less onerous for state special revenue credits than some investors thought.

GFOA members said they were taken aback and in some cases upset about the tone of the National Federation of Municipal Analysts' letter to regulators.

With Memorial Day and the unofficial start to the summer approaching, the municipal bond market continues to dance to the same old song.

Attention in the municipal market turned to the short-term sector on Thursday.

The amended rules require dealers to disclose markups and markdowns as a total dollar amount and as a percentage of the prevailing market price to retail investors.

Billions in new paper came and went just as quickly, with yields dropping from preliminary to final pricing for most of the bigger transactions.

The first of this week’s new paper hit the street with deals continuing to produce lower yields and oversubscription.

Though some dealers endured a technological headache, the year-old rules have improved transparency without disrupting trading, the MSRB said.

Illinois bonds are gaining ground in the secondary, supported by scant supply and recent fiscal developments viewed positively by investors and analysts.

The municipal bond market got stronger still as yields continue to go lower and muni/Treasury ratios decrease, ahead of $6.8 billion of new paper.