Heavy Supply Ahead, Spanning Variety of Sectors and Credits

Albano, Christine
February 2005
Bond Buyer;2/28/2005, Vol. 351 Issue 32079, p6
Trade Publication
The article reports that more than $8.4 billion in competitive and negotiated volume is expected to flood the primary market this week, creating a supply blitz that will encompass many different credits and span several sectors, from plain-vanilla general obligation debt to airport revenue bonds. With the pick-up in volume, municipal players say it will be challenging for investors to absorb the added supply without some price concession to offset the municipal market's low absolute yields. The state GO sale consists of $319.7 million of various purpose bonds maturing from 2006 to 2030, $89.2 million of fuel tax bonds maturing from 2008 to 2029, and another $85 million of fuel tax bonds maturing from 2006 to 2030.


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