Municipals were weaker amid larger losses in U.S. Treasuries while equities ended mixed as markets were quieter ahead of the FOMC rate-hike decision Wednesday. Triple-A benchmark yields were cut five to eight basis points, depending on the scale, while USTs rose six to 11 basis points. Muni-to-UST ratios were at 66% in five years, 84% in 10 years and 99% in 30, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the five at 67%, the 10 at 83% and the 30 at 98% at a 4 p.m. read. In the primary, J.P. Morgan Securities priced for Riverside County, California, $360 million of 2022 tax and revenue anticipation notes, with 5s of 6/2023 at 2.15%, noncall.
Source: The Bond Buyer
