Markets

The underwriter is banking on strong demand for high-yield bonds.

Top-rated municipal bonds finished weaker on Monday, traders said, as the New York Metropolitan Transportation Authority offered almost $600 million of green bonds to retail buyers.

Moody's revised the Missouri city's outlook to positive.

Barclays Capital plans to price the Cal regents deal Tuesday.

The Texas Water Development Board is planning the largest bond issue in its history as it also deals with the impact of Hurricane Harvey.

S&P Global Ratings said it has lowered its ratings on Virgin Islands Water and Power Authority's (WAPA) senior-lien electric system revenue bonds to CCC-plus from BB-plus.

The Federal Open Market Committee meeting should produce a start date for balance sheet reduction and a new dot plot, but no rate hike.

Top-rated municipal bonds were weaker at mid-session, traders said, as the New York Metropolitan Transportation Authority offered almost $600 million of green bonds to retail buyers.

Gov. Tom Wolf has threatened further cuts without a balanced $32 billion fiscal 2018 budget.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were announced Monday, as the three-months incurred a 1.045% high rate and the six-months incurred a 1.180% high rate.