Markets

Municipal bonds were on the move Wednesday as two big issuers came to market with over $1 billion of transportation bonds.

A proposal for a rate increase to back a bond got a hostile reception.

Recession concerns remain muted, even though manufacturing hit a 40-month low and businesses have turned "more cautious" in their hiring.

The $125 million deal is the first piece of a five-year plan to sell $1.3 billion of Garvees.

The city will hold a retail order period Wednesday for its general obligation bonds, followed by final pricing Thursday.

Muni yields were mixed as weak economic data pressured Treasuries and stock prices.

The college, using the state of Ohio as its conduit issuer, will price $49 million of bonds.

Moody’s Investors Service placed Rochester’s Aa3 issuer and general obligation limited tax rating on review for downgrade.

Another big week is in store for investors with a $1B NYC deal waiting in the wings.

Oakland Park will issue green water and sewer refunding bonds that carry S&P Global Ratings’ highest Green Evaluation score of E1.