Finance

Municipal bonds ended stronger on Wednesday as large deals from issuers in New Jersey and California hit the market.

East Texas Medical Center, one of the largest healthcare providers in the region, slipped two notches to B3 from B1 on the Moody's Investors Service as prospects for default.

Buffalo, N.Y. received an improved credit outlook from two rating agencies ahead of a planned bond sale to address capital improvements.

Morningstar has given its “Socially Conscious” designation to the JPMorgan Municipal Income Fund, making it one of the first in the municipal bond space.

Municipal bonds were stronger at mid-session as more new deals came to market, topped by some large offerings from issuers in New Jersey, California and Pennsylvania.

Municipal bond insurer analysts are rechecking their estimates of potential losses in Puerto Rico after the federal control board approved a 10-year plan that assumes less than 24% of debt coming due will be repaid.

The municipal bond market is seeing more new issue supply hit the screens on Wednesday, topped by some large deals out of New Jersey, California and Massachusetts.

The New Jersey Municipal Qualified Bond Act program, New Jersey County College Enhancement Bond Program, and New Jersey School Bond Reserve Act program were all downgraded in connection with the recent downgrade of the state government.

Top-rated municipal bonds finished stronger on Tuesday, according to traders, who saw the first of the week’s new issuance hit the market.

Top-rated municipal bonds were stronger at mid-session, according to traders, who were seeing the first of the week's new issuance hit the market.

Top-shelf municipal bonds were slightly stronger on Tuesday morning, as yields were lower by as many as two basis points according to traders, as they await the first new issuance of the week.

Top-rated municipal bonds finished stronger on Monday, according to traders, with a heftier new issue slate on tap for the week. The calendar is composed of mostly negotiated deals, with no competitive sales over $100 million.

Three rate hikes appear to remain appropriate for this year, Federal Reserve Bank of Philadelphia President and CEO Patrick T. Harker repeated Monday, noting they can be spread out.

Top-rated municipal bonds were stronger at mid-session, according to traders, who were set to see a heftier new issue slate on tap.

Municipal bond traders are set to see a heftier new issue slate on tap for the week ahead. The calendar is composed of mostly negotiated deals with no competitive sales over $100 million slated for the week.

After a slow week in the primary that featured little action and few well-known names, the market is expected to get a jolt of chunky issuance from big names from the states of New York and California.