Muni Prices End Weaker as New Deals Sell
Prices of top-quality municipal bonds closed weaker on Tuesday, traders said, with yields on some maturities rising by as much as four basis points.
Bond Buyer Markets Reporters Chip Barnett and Aaron Weitzman
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Build America Mutual wrapped $2.1 billion of municipal bonds in the first quarter, a 58% increase from a year earlier, led by deals in the primary market. more »
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., expanded its public finance practice with the addition of Christie Lombard Martin, who will be a member in the firm's Boston office. more »
Moody's Investors Service said it has upgraded East Brandywine, Pa.'s general obligation rating to Aa3 from A2. more »
Prices of top-quality municipal bonds were weaker at mid-session, traders said, with yields on some maturities rising by as much as four basis points. more »
The Treasury Department Tuesday auctioned $30 billion of four-week bills at a zero high yield, a price of par. more »
The U.S. services sector expanded at a faster pace in April as the non-manufacturing business activity composite index was 57.8 in the month, compared to 56.5 in March, on a seasonally adjusted basis, the Institute for Supply Management reported Tuesday. more »
The first of the week's new deals are set to come to market on Tuesday, led by a three-pronged competitive general obligation bond sale from the state of Ohio totaling $345 million. more »
The latest U.S. trade data were far worse than expected, and will cut first quarter gross domestic product numbers substantially. more »
Federal Reserve Chair Janet Yellen said the U.S. Department of Justice has joined an investigation into a leak of confidential monetary-policy information in 2012. more »
Lumesis Inc. has formed a strategic relationship with Pershing LLC that will give immediate access to DIVER Advisor’s municipal bond reports and compliance solutions to Pershing’s clients. more »
Within days of taking over as New York senate majority leader in January, prosecutors say, Dean Skelos was basking in his newfound power, announcing to his son Adam: "I'm going to control everything." more »
Prices of top-rated municipal bonds finished mixed on Monday, as trading was expected to remain subdued this week ahead of Friday's release of the April employment report. more »
Indiana Gov. Mike Pence has tapped Dennis Bassett, former Bank One managing director and the state's financial institutions director, as head of public finance. more »

This week, we discuss a new measure of pension funding, examine the impact of oil prices on labor markets in oil dependent States and discuss changing levels of food stamp participation.

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