Markets

Municipal Bond Club of New York members were urged to "continue preaching" the benefits as Congress debates tax reform.

Top-rated municipal bonds were weaker at mid-session, according to traders, as New York City hit the market with negotiated and competitive sales totaling over $1 billion.

The rating agency cautioned that rising pension costs and revenue restraints could pose challenges.

The San Francisco-based broker-dealer, which launched its trading platform in May, expanded its West Coast presence.

New York City will hit the market with negotiated and competitive sales on Thursday totaling over $1 billion.

The consumer price index rose 0.4% in August, slightly ahead of expectations for a 0.3% gain.

Initial jobless claims fell by 14,000 to 284,000 in the September 9 week, a surprise decline that suggests workers are having trouble filing for benefits.

The previous peak in PAB issuance was $14.5 billion in 2010, CDFA said.

The administrators of the school districts say the short-term loans are needed as they put together long-term fixes.

Top quality municipal bonds finished weaker on Wednesday, traders said, as more large deals hit their screens.