Securitization

Intercontinental Exchange agreed to buy TMC Bonds for $685 million in cash just eight days after IHS Markit's deal to buy Ipreo.

Municipal bonds were trading stronger Tuesday, with yields falling as much as five basis points, according to the MBIS benchmark scale.

The holiday-shortened week with the usual accompanying low issuance shouldn’t overwhelm demand, putting the municipal market in a good spot at midyear.

Municipal bonds were stronger ahead of Friday’s early close as the market will be greeted with $3.4 billion of new issue supply next week.

In the week ended May 24, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose to 4.02% from 4.00% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Municipal bonds were mostly stronger in late trading on Thursday as market activity slowed ahead of Friday’s shortened trading session.

The muni market officially got much of what it has spent years fighting for on Thursday, when President Trump signed the banking bill that makes tradable, investment grade municipal securities high-quality liquid assets under federal banking rules.

The municipal market is grinding to a halt, as the long holiday weekend approaches, and market technicals are strong and should remain that way once everyone returns.

Municipal bonds were stronger in late trading as West Virginia and the Regents of the University of California came to market.

Muni market groups got a long-awaited win when the House passed banking legislation classifying certain munis as high-quality liquid assets, even if it wasn't as big a win as hoped.

Water, wastewater, and securitization deals, and possibly an O'Hare airport sale, are still to come from Chicago this year.

Municipal bonds were stronger at mid-session as several big deals hit the market.

West Virginia increased the amount of its competitive sales planned for Wednesday by almost 30% to save money.

The municipal bond market is seeing a second wave of new issue supply hit the screens on Tuesday, led by deals from California and West Virginia issuers.

Municipal bond buyers are getting what they need this week — more supply.

Action in the municipal bond market got underway on Monday as two big deals hit the screens in early activity.

Municipal volume will sink to $6.36 billion, with the California issuer responsible for a third of the week’s paper.

Municipal bond volume slips back down to a more average level next week, after the market saw the biggest slate of the year hit the screens this week.

The Chicago Board of Education more than doubled the size of its general obligation deal to take advantage of demand.

The majority of the week’s big deals have priced over the past few days and are now receiving much attention from retail buyers.