Municipals hold firm ahead of above-average holiday week new issue calendar
Volume for the upcoming week is estimated at $8.34 billion, consisting of $6.30 billion of negotiated deals and $2.04 billion of competitive sales.
Stay updated with breaking news from Bid Group. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Volume for the upcoming week is estimated at $8.34 billion, consisting of $6.30 billion of negotiated deals and $2.04 billion of competitive sales.
This week's "manageable" calendar will continue what has been a quiet start to the new year in the municipal market, according to John Mousseau, president and chief executive officer and director of fixed income at Cumberland Advisors.
Investors will be greeted Monday with a new-issue calendar estimated at $4.303 billion.
The market has seen outflows for 13 straight weeks, per Refinitiv Lipper, but Nuveen strategists Anders S. Persson and John V. Miller said "selling is due primarily to investors harvesting tax losses."
Voters will decide on more than $60 billion of bond ballot measures Tuesday with New York voters faced with the largest amount at $4.2 billion.