Markets

Cook County stresses lack of link between its sales tax bonds and controversial beverage tax as it readies sale.

Municipal bonds ended mixed on Wednesday, according to traders, as the gilt-edged state of Maryland came to market with competitive sales won by Bank of America Merrill Lynch and Citigroup.

New York City’s economy grew 3.3% in the second quarter – more than double the 1.5% growth rate seen in the same period last year, according to an analysis released on Wednesday by City Comptroller Scott Stringer.

Fitch Ratings said it has downgraded the ratings of the United States Virgin Islands and the USVI Public Finance Authority.

Municipal bonds were weaker at midday, according to traders, as the gilt-edged state of Maryland came to market with two competitive sales won by BAML and Citi.

The channels to communicate with investors – things like investor websites - make it easy and cost effective even for small bond issuers to do so effectively.

Municipal bond traders are set to see the state of Maryland come to market with two top-quality competitive sales on Wednesday.

The pace of housing starts fell by 4.8% to a 1.155 million seasonally adjusted annual rate in July, well below expectations for a rise to a 1.220 million pace, data reported by the Commerce Department Wednesday morning showed.

The New York region's service sector activity "picked up," according to the Federal Reserve Bank of New York's August Business Leaders Survey, released Tuesday.

Top-rated municipal bonds finished weaker on Tuesday, according to traders, as several big competitive deals sold in the primary market, led by a high-quality offering from Mecklenburg County, N.C.