Markets

Municipal bonds finished weaker on Wednesday as Illinois came to market with $4.5 billion of general obligation bonds, the biggest tax-exempt deal of the year.

The city's general obligation rating fell to A2 from A1 in the wake of Hurricane Harvey.

Municipal bonds were weaker at mid-session as Illinois came to market with $4.5 billion of general obligation bonds, the biggest tax-exempt deal of 2017.

Municipal bonds were weaker as Illinois came to market with $4.5 billion of general obligation bonds, the biggest deal of the year so far.

The state Senate could bring the spending plan up for a vote that could help end a nearly five-month impasse.

The pace of new single-family home sales increased sharply by 18.9%, the largest percent change since January of 1992.

Municipal bond traders will be watching what kind of reception Illinois's $4.5 billion general obligation deal, the biggest of the year so far, gets on Wednesday.

The value of U.S. durable goods new orders rose 2.2% in September, well above expectations for a 1.1% increase.

The program heads to the Financial Review Commission and the Michigan Finance Authority for approval.

Municipal bonds finished weaker on Tuesday as deals from Florida and New York priced ahead of Illinois' $4.5 billion sale slated for Wednesday.