Markets

The state will sell $499 million various purpose GO refunding bonds.

The muni market was buzzing with activity on Tuesday, as issuers rushed to sell bonds that may no longer be allowed next year.

Moody's Investors Service cited fund balance discipline as it upgraded Burlington to A2.

A busy week got started Tuesday, with deals flowing in as the specter of tax reform plagues the primary municipal market and issuers rush to market with sales that may no longer be allowed next year, creating an opportunity for buyers.

Texas service sector activity “increased again in November,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index rose to 24.4 from 19.2.

Service sector activity “continued to see strong growth in November,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

The consumer confidence index increased to 129.5 in November from a revised 126.2 last month, The Conference Board reported Tuesday.

Manufacturing growth in the central Atlantic region was “robust” in November, according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index soared to 30 from 12.

The Pennsylvania Higher Educational Facilities Authority and the state of Wisconsin are coming to market on Tuesday as municipal bond traders eye tax reform developments in Washington.

The Central Florida Expressway Authority’s senior bonds won one-notch upgrades from Moody’s Investor Service and S&P Global Ratings.