Finance

With the first half of the year officially in the books, we take a look at long-term municipal bond issuance.

Baker, lawmakers must hash out FY18 plan

Issuance is forecast to screech almost to a halt during the July 4th holiday shortened week.

The Illinois House speaker, citing progress, asked rating agencies to hold off on negative action.

Muni analysts pointed to June's uptick in volume as a sign that issuance may start to rebound.

A skeletal $32 billion fiscal 2018 Pennsylvania budget was scheduled to make its way through the Senate.

Top shelf municipal bonds were unchanged at mid-session as traders prepared for next week’s almost non-existent new issue calendar. Ipreo estimates volume at $130.4 million, down from a revised total of $6.02 billion sold this week, according to updated data from Thomson Reuters.

Barring a dramatic turn of events, Connecticut will miss its midnight budget deadline.

Municipal bond traders are preparing for next week’s almost non-existent new issue calendar as they get ready for the upcoming Fourth of July holiday.

Illinois is staring at a historic fall into junk territory if lawmakers can't compromise.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices rose one basis point to 4.05% from the previous week's 4.04%.

Bonds were hit Thursday by a combination of global central bank comments, strong Eurozone economic data, and rising expectations of another interest rate hike by the Federal Reserve this year.

Municipal bonds were weaker as yields rose as much as seven basis points. In the primary, the N.Y. MTA postponed its $700 million green bond deal while Goldman priced the Los Angeles Department of Water & Power’s bonds.

The U.S. Securities and Exchange Commission may take action against bankers from Barclays Plc and Morgan Stanley for their roles in Puerto Rico bond sales before a worsening fiscal crisis sent it hurtling toward bankruptcy.

Municipal bond traders are eyeing yields on the rise as the primary gets set to see the last of the big deals of the week hit the market on Thursday.

Top-rated municipal bonds finished weaker on Wednesday, sending yields as much as four basis points higher, according to traders, as two large deals from New York issuers priced.

Top-rated municipal bonds were weaker at mid-session, according to traders, as two large deals from New York issuers came to market.

Chances of an on-time Connecticut spending plan faded.

Illinois House Democrats laid out a $36.5 billion fiscal 2018 spending plan.

Municipal bond traders are waiting to see the institutional pricing of the big DASNY deal as a host of other offerings hit the market on Wednesday.