Securitization

The municipal bond market on Monday is eyeing this week's small holiday calendar of new issues, which is dominated by taxable deals.

Municipals will see yet another week of sub-$4 billion issuance, as taxables take the top spot on the calendar.

A day after seeing the market rally and strengthen by five basis points on the long end, munis were quiet and flat ahead of another week of lackluster volume.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, dipped to 4.01% from 4.02% last week.

The municipal market rallied to close out Thursday five basis points lower in yield, while the last two larger deals of the week priced, with the Philly School District passing its test with flying colors.

The municipal market saw the last two notable deals price, as the market was stronger by as many as five basis points.

Primary and secondary activities were an afterthought Wednesday as the municipal market focused on the interest rate announcement from the Federal Reserve Board.

The municipal market concentrated on a Federal Reserve Board 25 basis-point interest rate hike, while keeping an eye on falling snow.

The municipal market completed a few competitive deals and one notable negotiated sale on Tuesday, while awaiting the conclusion of the Federal Open Market Committee meeting.

The municipal market and its participants got a few competitive deals, but the two-day Federal Open Market Committee meeting looms large.

This week's miniature muni slate of under $3 billion means deals should have little trouble attracting investors.

The municipal bond market is facing two big challenges this week -- smaller-than-average supply and a monetary policy meeting of the Federal Reserve.

After back to back weeks of decent issuance, the primary muni market will get with a reality check of weekly issuance below $3 billion, thanks mostly to continued tax reform fallout.

Supply plunges for the upcoming week, with Ipreo estimating volume at only at $2.9 billion, down from this week’s revised total of $5.0 billion, according to updated data from Thomson Reuters.

A spate of deals priced, as investors put more money into long-term municipal bond funds.

More supply hit the municipal bond market on Thursday as JPMorgan Securities won a sale from a rarely seen New York issuer and Morgan Stanley priced a big Florida deal.

New York City Transitional Finance Authority was able to cut yields amid healthy demand for its $1 billion bond sale Wednesday, as a drop in CUSIP requests signaled the supply drought may continue.

Detroit's plan to pay off some bankruptcy-related debt early should save $11.7 million.

Jefferies priced the New York City Transitional Finance Authority’s $1 billion of building aid revenue bonds and competitively sold $75 million of taxables.

Two New York issuers dominated the municipal bond market on Tuesday, bringing over $2 billion of new supply.