A Rockland bond maturing in February 2017 traded at an average yield of 1.7 percent on May 16, little changed from the week before, data compiled by Bloomberg show.
Bonds rated BBB have earned 6.4 percent this year, compared with 2.5 percent on AAA and 4.1 percent for the total municipal market, according to Bank of America Merrill Lynch data.
The bond shortage is "granting broad salvation to many of the market's sinners," Matt Fabian, managing director at Concord, Massachusetts-based MMA, wrote in a May 14 report.
Following are pending sales:
MASSACHUSETTS is set to issue $350 million of general-obligation bonds as soon as this week to help finance capital projects. The debt will price competitively. The longest maturity for the bonds is 2042, according to offering documents. S&P rates Massachusetts AA+, second-highest.
VIRGINIA TRANSPORTATION BOARD plans to borrow $600 million of revenue debt as soon as this month via competitive bid. Proceeds will help finance capital projects, according to documents from the board's April 18 meeting. The bonds will mature annually from 2013 through 2037.