The issuance calendar for the next 30 days, encompassing the abbreviated trading week after the Sept. 4 US Labor Day holiday, currently shows about $5.9 billion of municipal-bond sales, according to data compiled by Bloomberg. That’s not far off the slowest pace since February and well below the five-year average of so-called visible supply, which stands at about $11 billion.The slowdown, starting this week with sales slated to total about $3.
Ten-year benchmark municipal debt yields around 2.9%, the highest since November and almost 40 basis points above the end of July, data compiled by Bloomberg show. The muni market is down about 1.8% in August, while US Treasuries have lost 1.3%, according to Bloomberg index data.
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