Markets

A state official cited the need to have special tax obligation bonds rated "on the bonds' own merits," distinct from the state's GOs.

The University of Michigan's preliminary January consumer sentiment index reading was 94.4 compared to the final December 95.9 reading, sources said.

Munis came under pressure as Treasuries weakened on concern over a possible government shutdown and traders looked ahead to a return to normal in deal volume next week.

The index's yield to maturity ticked up two basis points to 3.86%, while the 11-bond, 20-bond, and revenue bond indexes dipped a pair.

Loop Capital also priced refunding bonds for Cook County, Ill., in the negotiated market.

The centerpiece of the U.S. Chamber of Commerce's four-part infrastructure plan is a 25 cents per gallon increase in the federal gas tax.

Bondholders now have until Jan. 26 to agree to the tender exchange on up to $435 million in bonds.

The New York Metropolitan Transportation Authority sold a $478.18 million competitive deal to Bank of America Merrill Lynch as bond yields moved higher on Thursday.

Uncertainties surrounding tax reform and a spike in supply are creating opportunities in the municipal market. Natalie Cohen, head of Municipal Research at Wells Fargo Securities, weighs the various factors. John Hallacy hosts.

The municipal bond market on Thursday will see the last of this week’s deals hit the screens as muni yields remain range-bound.