Markets

In an unusually busy Monday, municipal bond issuers tried to beat the clock and complete sales ahead of the impending tax reform.

The Railsplitter Tobacco Settlement Authority will price a $679 million current and advance refunding of tobacco bonds.

Approval of the tax reform bill led the Florida Development Finance Corp. to cancel its Monday meeting to approve a deal for the train project.

A limited tax base and heavy legacy obligations have hamstrung the city, according to the rating agency.

Now that the uncertainty of tax legislation and how it relates to munis is gone, market participants can focus on the upcoming calendar — as it will most likely be the last big supply week for a while, with Christmas and New Year’s right around the corner.

The primary market is set for yet another week of hyperactivity as issuers make one final push to get advance refundings done before they disappear.

Colorado and its private partners on redevelopment of a 10-mile section of Interstate 70 are in the market with $116.9 million of PABs.

The final tax bill released late Friday afternoon saved private activity bonds but advance refunding bonds will disappear.

Builders’ confidence in the market for new single-family homes increased as the National Association of Home Builders' housing market index climbed to 74 in December.

The New York region's service sector activity "continued to grow at a healthy pace," according to the Federal Reserve Bank of New York's December Business Leaders Survey.