Markets

The Volunteer State lowered the savings threshold it requires for a refunding.

The rating actions came after the state agreed to assume the city's GO debt.

The value of business inventories in February rose by 0.6%, as expected by analysts.

Builders’ confidence in the market for new single-family homes remained high as the National Association of Home Builders' housing market index dipped to 69 in April from 70 in March.

U.S. retail sales rose by more than expected in March in the first gain in three months, suggesting consumer demand regained steam on the back of tax cuts and refunds.

Prices paid remain elevated, while the future outlook sank.

Muni issuance will pick up next year, said George Friedlander, managing partner of Court Street Research Group.

Municipal market volume will rise by two-thirds to $7.45 billion in the coming week, led by a $2 billion taxable deal from California.

KeyBanc will price $162.5 million in revenue bonds for the King County Housing Authority Tuesday.

Build America Mutual, the only mutual insurer of U.S. municipal bonds, has a collateralized reinsurance agreement with Fidus Re Ltd. that will also add to its internal growth.