The municipal market rallied by as much as 10 basis points, several large new issues priced and ICI reported $1.5 billion of outflows, down dramatically from the previous report of $20 billion.
The market appears to be moving toward some semblance of normal conditions as the new-issue pricings and moderating bid volume create a more stable tone.
Bon Secours Mercy Health’s (A1/A+/AA-/NR) priced $683 million of hospital facilities revenue bonds and Citi received the written award on Texas Public Finance Authority’s (Aaa/AAA/ / ) $472.470 million of general obligation and refunding taxable bonds.
Other large deals out of Virgina, Texas, and Tennessee were providing direction for the overall market.
The market appears to be moving toward some semblance of normal conditions as the new-issue pricings and moderating bid volume create a more stable tone.
Bon Secours Mercy Health’s (A1/A+/AA-/NR) priced $683 million of hospital facilities revenue bonds and Citi received the written award on Texas Public Finance Authority’s (Aaa/AAA/ / ) $472.470 million of general obligation and refunding taxable bonds.
Other large deals out of Virgina, Texas, and Tennessee were providing direction for the overall market.
Source: The Bond BuyerRead the full story ↗
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