Markets

Legislative leaders say the move will plug a $2.2 billion budget shortage and end a nearly five-month budget impasse.

The bonds will refund debt the city sold in 2012 and 2013.

Chicago Public Schools says its books are balanced while also saying it needs more than $1 billion of short-term borrowing.

Municipal bonds were unchanged at mid-session as issuers from Maryland and California were selling over $1.1 billion of bonds by competitive bid.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "posted strong growth and expectations about future activity improved further."

The House and Senate actions place the ball in the court of Gov. Dannel Malloy, who was sidelined during the negotiations.

Pending home sales remained at an index reading of 106.0 in September, after a revision to August’s level.

The municipal bond market on Thursday is eyeing yields as the last of the week’s larger deals are slated to sell, with two big competitive offerings on tap.

Initial claims U.S. state unemployment benefits rose by 10,000 to 233,000 in the October 21 week.

Illinois will use the proceeds to pay down some of its $16 billion unpaid bill backlog.