Bullish sentiment protected tax-exempts from a Treasury sell-off Friday, and market players expected strong investor demand to bolster prices of $3.8 billion of new issues this week.

The credit markets enjoyed a one-point rally Thursday. Municipals were higher for the fourth session in a row, gaining an extra boost as investors laden with cash from the massive July 1 redemptions chased after a limited amount of available bonds.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.