Secondary bond market

The market will digest the once-again largest amount of new issues in 2020, including some higher-grade state GOs that have been quiet of late. Some participants said a back-up in rates could occur after a mostly quiet week.

Municipals were a bit stronger on the long end Thursday as action heated up in the primary.

Chris Brigati, managing director and head of municipal trading at Advisors Asset Management, talks with Chip Barnett about what investors can expect in the fourth quarter. He looks at interest rates, the economy and the presidential election and what’s in store in a post-pandemic world. (21 minutes)

Municipals finished little changed Wednesday as a hefty slate of new deals came to market.

Municipals were mostly unchanged with a firm tone on Tuesday, according to market participants, ahead of the week's large new-issue calendar that's heavy on taxables.

Munis too a breather Friday after a week where yields rose by as much as 10 basis points on long-dated maturities.

The Puerto Rico Aqueduct and Sewer Authority said it might be refinancing its bond debt with a new bond issue by the end of the year.

Another week of inflows as reported by ICI and the municipal market continues to push on. There is money to put to work, sources say, depending on who is willing.

Municipals weakened on Tuesday, with yields off by as much as three basis points.

After COVID-19 left NYC with a ratings downgrade, the city offered retail investors first crack at its $1 billion GO deal. The San Francisco Public Utilities Commission will be the first issuer to publicly list on an international exchange in an attempt to lure foreign investors.