a tall building in a city


THE BOND BUYER: Illinois primary market penalties shrink to bygone era

March 17, 2021

Illinois rode the tailwinds of market demand for higher-yielding paper and a rosier fiscal picture that sent its spreads Tuesday to a primary outing low not seen since a two-year budget impasse in 2014 left its ratings near junk. "Illinois again has the great good fortune of borrowing when rates are low, and spreads are tight. There is a lack of muni supply, and that was illustrated by the order book here," said Brian Battle, director of trading at Performance Trust Capital Partners.

You must be a Bond Buyer subscriber to view this article.

View Full Article