Markets

While the markets are pricing in two or three interest rate cuts this year, doubters remain.

The Federal Open Market Committee is meeting this week and the muni market is looking for rate cut signals.

The junk-rated district's latest cash flow issue was nearly eight times oversubscribed as it trimmed rates substantially from previous sales.

Traders are now pricing in a more than 80% chance of a rate cut in July.

The health system is coming to market Tuesday with a $637 million new money and refunding sale.

Build America Mutual announced that it has been accepted as a member of the Federal Home Loan Bank of New York, becoming the first municipal bond insurer to join the system.

Business activity in New York contracted in June, as tariffs and a slight softening in the labor market took a toll on conditions.

Nearly $300 million of municipal debt sold 12 years ago to expand Central New York's Destiny USA shopping mall were dropped to junk-level Ba2 by Moody's Investors Service.

Another big week lies in store for the municipal bond market, with a variety of big name issuers ready to sell bonds.

Moody's is bullish on the state's budget and capital bills, less so on gambling expansion and recreational marijuana