Securitization

Retail and institutional municipal bond investors hope volume of nearly $9 billion is a sign of consistent elevated weekly volume for the remainder of the year.

With nearly $9 billion in volume, thanks to a large refunding deal, market participants expect issuance will remain strong as issuers try to beat tax reform.

Refundings on the calendar for the week ahead spurred speculation that issuers may rush deals to market before they are banned by the GOP tax plan.

Top-shelf municipal bonds were stronger on Friday around midday, as market participants were still going over the details of the GOP tax reform bill.

The municipal bond market is still chewing over the details of the GOP tax reform bill, and considering its implications.

Market participants reacted negatively to the proposal in the tax reform bill to eliminate advanced refundings and private activity bonds, saying it would crimp volume and the savings issuers can get when rates fall. In the primary, strong demand met a Virginia issuer's $737 million PAB.

Strong legal and structural protections earned the debt top grades from Kroll and Fitch. S&P wasn't as bullish.

Municipals and Treasuries were stronger around midday, with the GOP releasing some details of its tax bill and ahead of President Trump’s expected nomination of Jerome Powell as Fed chair.

Municipal bond prices rose as the week's biggest issue is scheduled to price.

A handful of issuers took advantage of low activity Wednesday as the market anticipated the decision to keep the benchmark fed funds rate unchanged.

The primary municipal bond market saw a few deals trickle in on Wednesday, as the Federal Open Market Committee's announcement regarding interest rates nears.

The primary municipal bond market will see a handful of deals price Wednesday, as it waits for the Federal Open Market Committee to make an announcement regarding interest rates.

The Massachusetts Development Finance Agency and Phoenix Civic Improvement Corp., were among issuers taking advantage of steady yields ahead of the FOMC meeting and Trump's nomination for Fed chair.

Municipals were steady on Tuesday around midday, as market participants saw the first wave of new paper hit, with deals from Montgomery County, Md., and the Phoenix Civic Improvement Corp.

Municipals were flat on Tuesday morning, as market participants wait for the first new paper of the week.

Municipals were firmer on Monday, as market participants awaited the week's first issues from Montgomery County, Md., and Phoenix.

Municipal bonds were little changed in midday activity as the market gets ready to see nearly $7 billion of new paper.

Municipals were little changed in early activity as the market gets ready to see almost $7 billion of new paper come its way this week, led by issuers from Virginia and Maryland.

Municipal bonds ended unchanged on Friday as the market geared up for a more manageable new issue calendar, led by Montgomery Co., Md., and the Virginia Small Business Financing Authority.

Municipal bonds were unchanged at mid-session, according to traders, who are looking ahead to the next week's $6.7 billion new issue slate, which will be headlined by big offerings from Virginia and Maryland Issuers.