Finance

Municipal and Treasury bonds weakened as stocks surged to record highs in early trading.

The Sales Tax Securitization Corp.’s second offering faced a tougher market environment.

The $55 million deal would be the second leg of financing needed for the $571 million project.

Underwriters reportedly offered spreads to the Municipal Market Data’s AAA benchmark scale of 55 basis points on serials ranging from 2031 to 2038.

The authority realized $534 million in present-value savings from those transactions in 2017, said finance director Patrick McCoy.

The cloud-based application is designed to help smaller firms access data on a broader universe of bonds.

MacKay Municipal Managers has released its list of the top five trends to watch for in the municipal market this year.

Gov. John Bel Edwards released a spending plan for 2019 targeting health care and higher education to bridge much of the deficit.

The university expects healthy reception for its higher education bonds in a supply-constrained market.

State agencies are also holding $2.3 billion of bills that can’t be paid until lawmakers approve appropriations, the state comptroller said.

A pre-marketing wire on the Sales Tax Securitization Corp.'s $366.2 million of tax-exempts indicates the Chicago deal may see wider spreads than in its bond sale last month.

Although tax reform concerns pushed issuers into the market in December, CUSIP requests for the year, were lowest since 2014.

Municipal bond traders return to work with yields and the revamped Chicago deal in their sights.

The city will see Monday if its retooled sales tax securitization issue is a go with the market.

Muni volume in the last week of January is forecast to match that of the first three weeks combined, satisfying pent-up investor demand.

Milwaukee is selling $70 million of notes to speed up pension payments.

Municipal bond prices remain under pressure at midday as U.S. Treasury yields hit three-year highs and the market looks to next week's $7.17 billion slate.

A state official cited the need to have special tax obligation bonds rated "on the bonds' own merits," distinct from the state's GOs.

Munis came under pressure as Treasuries weakened on concern over a possible government shutdown and traders looked ahead to a return to normal in deal volume next week.

Loop Capital also priced refunding bonds for Cook County, Ill., in the negotiated market.