Municipals end mostly flat despite shaky Treasuries; Pennsylvania prices $990.55 million bonds

By Sheri Kasprzak

New York, June 1 – Municipals rounded out the Wednesday session mostly unchanged even as Treasuries closed mixed, market insiders said, as the week’s offerings started pricing.

Yields on top-rated munis were flat, a trader said, with the triple-A 10-year bond yield holding at 1.70% and the 30-year bond yield remaining at 2.64%.

Pennsylvania G.O.s price

Moving to the session’s new-issue action, Pennsylvania reportedly priced $990.55 million of first series general obligation bonds (Aa3/AA-/AA-). The full terms of the pricing were not immediately available Wednesday afternoon.

The bonds priced in two tranches, $355 million of G.O. bonds and $635.55 million of refunding bonds.

Proceeds will be used to finance transportation projects and refund existing G.O. debt.

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