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New Jersey's long track record of aiding distressed municipalities continues, according to S&P Global Ratings credit analyst Timothy Little.

The Treasury Department auctioned $34 billion of five-year notes, with a 2% coupon, a 2.058% high yield, a price of 99.725759.

Municipal bonds were weaker at mid-session as Illinois came to market with $4.5 billion of general obligation bonds, the biggest tax-exempt deal of 2017.

The Treasury Department Wednesday auctioned $15 billion of two-year floating rate notes with a high discount margin of 0.048%, at a 0.048% spread, a price of par.

Municipal bonds were weaker as Illinois came to market with $4.5 billion of general obligation bonds, the biggest deal of the year so far.

The state Senate could bring the spending plan up for a vote that could help end a nearly five-month impasse.

The pace of new single-family home sales increased sharply by 18.9%, the largest percent change since January of 1992.

Budget Director Mick Mulvaney said disaster aid won't be used to bail out Puerto Rico’s bondholders.

Municipal bond traders will be watching what kind of reception Illinois's $4.5 billion general obligation deal, the biggest of the year so far, gets on Wednesday.