Kyle Glazier

Australian infrastructure giant Transurban will concede the 8.8-mile Pocahontas Parkway toll road in southeast Virginia back to its lenders because the road failed to live up to its revenue projections.

The sentencing dates of more convicted municipal bond bid-riggers have been pushed back, according to documents filed with the U.S. district Courts for the Southern District of New York and Western District of North Carolina, as prosecutors seek stiffer penalties for price-fixing of investment contracts.

Elaine Greenberg, chief of the Securities and Exchange Commission's Municipal Securities and Public Pensions Enforcement Unit, will step down at the end of July.

Municipalities throughout Virginia will receive a share of nearly $155 million in state funds to help with infrastructure projects, Gov. Bob McDonnell announced Friday.

The Senate Banking Committee will hold a hearing June 27 to consider two nominees to the Securities and Exchange Commission.

Moody's Investors Service has downgraded to A1 from Aa3 the Metropolitan Washington Airports Authority's $5 billion of airport revenue bonds.

A U.S. House panel has given initial approval to an appropriations bill that would slash funding from programs that support public infrastructure projects as part of an effort to cut federal transportation and housing spending by $7.7 billion.

Existing home sales rose 4.2% to a seasonally adjusted 5.18 million-unit rate in May from an unrevised 4.97 million pace the previous month, the National Association of Realtors announced Thursday.

Investment Company Institute president and chief executive officer Paul Schott Stevens said Wednesday that ICI supports one federal proposal on money market fund reform, but strongly opposes the other.

The Fed will continue open-ended programs to purchase longer-term Treasuries at a rate of $45 billion per month and mortgage-backed securities at a $40 billion per month, the Federal Open Market Committee said in a statement released Wednesday following the FOMC's two-day meeting.

Standard and Poor's has told issuers of municipal bonds this week that the rating agency expects borrowers seeking a rating to disclose all debt-like obligations, including increasingly-popular bank loans.

Housing starts increased 6.8% to a seasonally adjusted annual rate of 914,000 in May, the Commerce Department reported Tuesday.

The National Federation of Municipal Analysts is working on several new issue and disclosure initiatives geared to helping issuers navigate debt transactions.

The U.S. current account deficit rose to $106.1 billion in the first quarter of 2013 from a revised $102.3 billion deficit in the fourth quarter of 2012, originally reported as $110.4 billion, the Commerce Department reported Friday.

The Highway Trust Fund will need an additional $85 billion in U.S. general fund transfers over the next six years just to keep the program operating despite recent events that have shown that current spending is not enough, a Department of Transportation official told a Senate Panel Thursday.

Business inventories rose 0.3% to $1.66 trillion in April, while sales fell 0.1% to $1.27 trillion, the Commerce Department reported Thursday.

Retail sales climbed 0.6% to $421.1 billion in May after rising an unrevised 0.1% in April, the Commerce Department reported Thursday.

The federal government ran a $138.7 billion budget deficit in May after posting a $112.9 billion surplus the previous month, the Treasury Department reported Wednesday.

Dealers generally like the Municipal Securities Rulemaking Board's proposed rules governing sophisticated municipal market professionals, which need less protection than retail investors, but are seeking some clarifications and suggesting the rules expanded to cover small hedge funds.

The Municipal Securities Rulemaking Board announced Wednesday that it has added an experienced securities lawyer, Michael L. Post, to its roster as a deputy general counsel.