Munis are off to a "quiet and tentative" start, says Thomson Reuters Municipal Market Data's Randy Smolik. The firm's benchmark scale shows munis flat to up as much as one basis point in yield. In the primary market, the Dormitory Authority of the State of New York is offering $238M in debt to individual investors and could take orders from institutions as soon as this afternoon, MMD says. Meantime, this is the 3rd-straight week where there's been less than $4B in new debt offerings in the muni market, says Janney.
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