Finance

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.

Illinois could still see its rating cut to junk, as Moody's raises concerns over the shortcomings of a partisan budget deal.

Top-quality municipal bonds finished mixed on Wednesday, according to traders, who returned to work after the Fourth of July holiday to see a $130.4 million new issue calendar, the smallest of the year.

One week after National Public Finance Guarantee was downgraded two-notches by S&P Global Ratings, the bond insurer laid off 29 employees, slashing all of the new-business team.

Top-quality municipal bonds were weaker at mid-session, according to traders who returned to work after the Fourth of July holiday to see a $130.4 million new issue calendar, the smallest of the year.

SANTA FE, N.M. — New Mexico appears to have dodged -- at least for now -- an additional downgrade to its bond rating, though a national credit rating agency warned that the state still faces deep-rooted economic challenges.

Municipal bond traders are returning to work after the Fourth of July holiday only to see a $130.4 million new issue calendar, the smallest of the year.

Top-rated municipal bonds finished weaker on Monday in a quiet pre-holiday-shortened trading session.

CIty Council members delayed voting on a proposal by the city’s mayor that would extend the contract for 30-years.

Fitch Ratings said has downgraded the rating on the Puerto Rico Sales Tax Financing Corporation (COFINA) $6.3 billion senior lien sales tax revenue bonds and $8.9 billion first subordinate lien sales tax revenue bonds to D from C.

Managers differ on how to position funds as they wait for clarity on economic and interest rate policy.

The municipal bond market was quiet on Monday ahead an early close to trading and Tuesday’s full close for the Fourth of July holiday.