Muni Minute: After Election, Market Gets Back in the Saddle

In the latest installment of The Bond Buyer’s Muni Minute we look at the week’s primary market , where over $11 billion of new deals are set to price into a volatile rate environment after the Election of 2016. New York’s TSASC, Arizona’s Salt River AIPD and Los Angeles’ Airports.

BARNETT: Only week after the US elections, the municipal bond market will see over $11 billion dollars of new deals sell into a volatile rate environment. Yields on top shelf munis rose 25 basis points on the week after Donald Trump won the Presidency in a surprise result, creating uncertainty among market participants. This week's chunky calendar will be headlined by TSASC Inc.'s $1 billion tobacco settlement bond deal. Jefferies is set to price the New York bond deal which will refund the authority's outstanding bonds, which were previously issued by the Local Development Corporation.

Elsewhere, Morgan Stanley is set to price the Salt River Agricultural Improvement and Power District, Arizona's.'s $720 million of refunding revenue bonds through the Salt River Project Electric System. And two deals are coming out of the Golden State when RBC Capital Markets prices the Los Angeles Department of Airports' $662 million deal and Bank of America Merrill Lynch prices the Los Angeles County Metropolitan Transportation Authority's $515 million sale. I'm Chip Barnett. This has been your Muni Minute.