Markets

Municipal bonds were weaker Tuesday as Illinois sold $500 million of bonds and the N.Y.&N.J. Port Authority deal was priced.

S&P Global Ratings lifted Moberly, Missouri, out of speculative grade with a four-notch upgrade.

Ohio Higher Educational Facility Commission will issue $105 million of tax-exempt revenue bonds on behalf of Case Western Reserve University.

Pension costs and slow growth in state revenues contributed to a fifth straight year of net tax-supported debt growth of under 2%.

The recent performance of munis has reset relative valuations to more attractive levels, according to BlackRock's Peter Hayes.

Municipal bonds are financing a new Alabama zoo that will move hundreds of animals out of a hurricane danger zone.

Municipal bond buyers had billions of new paper flow into the primary market - which took it all down but overall the market was weaker for the second day in a row as Treasury yields continue to climb.

Municipal bond buyers had a wide variety of offerings to choose from on Tuesday.

New single-family home sales pace saw a significant rise in the month, increasing by 4.0% to 694,000.

Service sector companies “saw slowing growth in April,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.