The Treasury Department yesterday auctioned nine-year, four-month notes with a 3.500% coupon at a 3.790% yield, a price of 97.730424.
The bid-to-cover ratio was 2.31.
Tenders at the high yield were allotted 73.69%.
The median yield was 3.719%. The low yield was 3.640%.
The nine-year, four-month notes are dated Oct. 15 and due Feb. 15, 2018.
The bond plan, a key priority for Mayor Brandon Johnson, will be paid for with revenue gained by letting tax increment financing districts expire.
Moody's Ratings on Monday revised Illinois' outlook to positive from stable and affirmed the state's A3 issuer rating and the A3 rating on its GO debt.
"Bifurcated demand reflects the persistent bid strength from [separately managed accounts] and retail investors, not to mention more accounts marshaling cash and liquidity up front while the Fed perspective evolves," said MMA's Matt Fabian.
In a move that kicks the can down the road at the very least, the Commission has begun a process that often results in outright rejection.
The 2022 law, which has so far banned three major investment banks from underwriting municipal bonds in Oklahoma, could be amended to limit its reach to state agencies.
The SEC has won a partial victory against Choice Advisors and its principal Matthias O'Meara for their role in acting as unregistered brokers and for engaging in a fee-splitting arrangement.
