Investors will be greeted Monday with a new-issue calendar estimated at $7 billion. While issuance will likely come in above average this month, negative net issuance is still expected.
Munis have been steady to firmer in spots over the past few trading sessions as fundamentals have taken over. Triple-A 30-year munis dipped below 3% Tuesday, the first time since early June.
Investors will see almost $11.5 billion of volume head their way in the largest new-issue week of the year. More participants expect municipals to improve in the second half of 2022.