Large new issues to come amid steadier muni market
The $11-billion-plus calendar is the largest in eight weeks and includes two large high-grade issuers which may entice buyers into the market.
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The $11-billion-plus calendar is the largest in eight weeks and includes two large high-grade issuers which may entice buyers into the market.
While small in size and population, D.C. is a wealthy area. If it were a state, it would rank 47th in population while its per-capita income leads all 50 states and it has a GDP greater than 17 states.
Munis have been steady to firmer in spots over the past few trading sessions as fundamentals have taken over. Triple-A 30-year munis dipped below 3% Tuesday, the first time since early June.
Investors will see almost $11.5 billion of volume head their way in the largest new-issue week of the year. More participants expect municipals to improve in the second half of 2022.
Denver International Airport returns to the municipal market boosted by a rating upgrade as it recovers from passenger and revenue losses in the pandemic.