Municipal yields flat in quiet trading; Missouri Joint Municipal Electric bonds to price

By Sheri Kasprzak

New York, Dec. 4 - Municipal yields were relatively unmoved to round out the week, said a trader reached during the afternoon.

"It has been a very quiet day," the trader said.

"We're seeing a few things trading here and there, but the tone is flat overall. Not a lot of movement really anywhere."

Amid the light trading, the Industrial Development Authority of Winchester, Va., saw its recently priced series 2009E bonds sold for Valley Health System Obligated Group trading. The 5.75% 2039 bonds were seen trading near par during the afternoon.

In other health care offerings, the Orange County Health Facilities Financing Authority's bonds priced for Orlando Health were seen moving. The 5.125% 2026s were seen at 5.145% Friday afternoon.

Also on Friday, Piedmont Municipal Power Agency, S.C., saw its series 2009B Build America Bonds trading. The 7.036% 2034 bonds were trading at 6.864%.

Looking ahead to the coming week, the Missouri Joint Municipal Electric Utility Commission is set to sell $206.12 million in series 2009 power project revenue bonds, according to a preliminary official statement. The bonds will be sold Wednesday, according to a sales calendar.

The deal includes $192 million in series 2009A Build America Bonds and $14.12 million in series 2009B taxable bonds.

The bonds will be sold on a negotiated basis with J.P. Morgan Securities Inc. as the lead manager.

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