Washington
Large new-issues price into strong market as yields fall
California and Washington sold four large refunding GO deals in the competitive market while several deals of size priced in the negotiated market led by a $650 million for Arizona’s Salt River Project. A constructive secondary led yields to fall three to five basis points.
Read MoreMunis steady ahead of FOMC; Washington GOs sell to good reception
The offered side “has continued to pack the primary market with value to manage their (and the market’s) potential downside if disruption did occur; this also helps the context for muni buyers headed into the Fed,” said Matt Fabian, partner at Municipal Market Analytics.
Read MoreBellwether names await investors; munis close firmer
The $6.9 billion new-issue calendar features high-grade deals from Georgia, Washington and Massachusetts, among other frequently traded credits, which should provide direction for scales.
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