Finance

The municipal bond market on Tuesday will see more supply head its way with the second day of retail orders being held on the New York City Transitional Finance Authority’s $1 billion of building aid revenue bonds and deals expected from Los Angles and Philadelphia.

Municipal bonds ended mixed on Monday, according to traders, as the New York City Transitional Finance Authority’s $1 billion of building aid revenue bonds were priced for retail investors and the Chicago Public Schools came to market with an unrated bond deal.

Chicago Public Schools borrowed $500 million after doubling the size of its GO offering.

Allegations of fiscal mismanagement landed a California school district on negative watch.

Municipal bonds were mixed at mid-session, according to traders, who are set to see a chunky new issue slate head to market this week. Volume is estimated at $9.29 billion, composed of $7.94 billion of negotiated deals and $1.35 billion of competitive sales.

After two years Illinois finally got a budget, but this week the municipal bond market will be eying the state’s credit rating.

Providence, R.I., will host the 2019 National Association of State Treasurers' Treasury Management Training Symposium.

Breaking a record two-year budget impasse drove a dramatic easing of Illinois' spread penalties.

Municipal bond traders are set to see a chunky new issue slate head to market this week. Volume is estimated at $9.29 billion, composed of $7.94 billion of negotiated deals and $1.35 billion of competitive sales.

Municipal market participants will get back to work and find their hands full, with $9 billion of new issuance forecast for the primary market.

Moody's Investors Service said it has placed Chicago's Ba1 general obligation rating under review for possible downgrade.

Top-shelf municipal bonds were weaker at mid-session, according to traders, who were looking ahead to next week’s hefty new issue slate. Ipreo estimates volume at $9.29 billion, consisting of $7.94 billion of negotiated deals and $1.35 billion of competitive sales.

Municipal bond traders are finishing up a sleepy week where very little happened in the secondary and the primary was even quieter.

The Illinois House overrode Gov. Bruce Rauner's veto to enact the first state budget in two years.

In the week ended July 6, the average yield to maturity of the Bond Buyer Municipal Bond Index rose four basis points to 4.09% from 4.05% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Top rated municipal bonds ended weaker on Thursday, traders said, as only a few smaller-sized bond sales hit the primary market.

Pennsylvania’s budget inaction landed the state on credit watch with negative implications.

Rhode Island’s fiscal 2018 budget is in no-man’s land amid a dispute between the Senate and House.

Top-rated municipal bonds were weaker in quiet midday trading, traders said, as only a few smaller-sized bond sales hit the primary market.

The municipal bond market was expected to remain quiet on Thursday, with only a few smaller-sized bond sales set to be priced in the primary, and action in the secondary expected to remain muted.