Los Angeles MTA plans $320.94 million sale for Thursday; munis round out the week firmer

By Sheri Kasprzak

New York, Oct. 2 - The municipal market remained mostly unchanged to end the week, but the tone of the market was firmer. The trend of the week seemed to be dropping yields on the long end, and Friday was no different, one trader said.

"The long end is some better. Yields are down by a couple of basis points," the trader said.

"The rest is unchanged."

Amid the trading action Friday, American Municipal Power Inc.'s recently priced series 2009C taxable revenue bonds were in motion. The bonds received a great deal of secondary market interest, the trader noted.

The 6.453% 2034 bonds were seen at 6.252%. The 6.553% 2039s were seen at 6.318%.

Meanwhile, the Port Authority of New York and New Jersey's 160th series consolidated bonds also saw some investor interest in secondary. The 4.25% 2034 bonds were seen trading Friday afternoon at 4.021%.

Moving to upcoming sales, the California Health Facilities Financing Authority is set to sell $535 million in series 2009 revenue bonds for Los Angeles' Cedars-Sinai Medical Center on Tuesday, according to a sales calendar.

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