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The Treasury Department said it will auction $20 million 7-day cash management bills on Sept. 8.

The White House is considering more than a half-dozen candidates to be the next head of the Federal Reserve, including economists and business people, with a goal of filling out a depleted board with expertise ranging from financial regulation to community banking, according to three people familiar with the matter.

Municipal bond traders on Friday are looking ahead to next week’s new issue calendar, which will be dominated by big bond deals from New York City and Maryland.

New York Fed President William Dudley reiterated the need to continue raising interest rates while conceding the inflation model may be need a rethink.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.98%, from 3.99% last week.

Legislative package will provide more time for tax reform and pave the way for SLGS sales

The offering follows the resolution of legal challenges to toll rate increases.

Mayor Luke Bronin told Gov. Dannel Malloy and lawmakers that Chapter 9 for Connecticut's capital is inevitable if the state cannot pass a budget.

Lower-rated issuers like Puerto Rico have been slower to rebound from past natural disasters, municipal analysts said.

Gov. Bruce Rauner says he will act to authorize $6 billion of borrowing to knock out overdue bills.