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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: