Municipal bonds were very lightly traded Thursday and moved only slightly as the backdrop of a rallying Treasury market and plunging stocks kept most large muni market-makers sidelined. Thursday marked the last day of the week for any sizable new issues, and most of these bonds were distributed with relative ease. In terms of day-to-day total returns:
- The high-grade, short end of the curve showed a total return of negative 0.01%, according to Municipal Market Advisors data. The high-grade, intermediate part of the curve showed a total return of negative 0.02%. The high-grade, long end of the curve showed a total return of positive 0.03%.
Major new issues priced Thursday:
- $457 million system revenue bonds for the Trustees of the California State University; Aa3/A+/NR; institutional pricing. $157 million health system revenue bonds for Catholic Health East; A1/A/A; retail and institutional combined pricing. $136 million general obligation bonds for the Oregon University System; Aa2/AA/AA; institutional pricing.