Markets

Assured Guaranty, National Public Finance Guarantee, and Financial Guaranty Insurance Co. challenged diversion of special revenue bond collateral that secures $4.1 billion of Puerto Rico Highways and Transportation Authority bonds.

Municipal bond traders on Monday will be looking ahead to the week’s hefty new issue slate as bond yields look likely to continue their downward descent.

WASHINGTON (MNI) - First quarter nonfarm productivity was revised modestly higher to a flat reading from a 0.6% decline previously reported, while unit labor costs were revised down to a 2.2%% pace of growth from the 3.0% rise in the preliminary estimate, data released by the Bureau of Labor Statistics Monday showed.

While some firms in the municipal bond industry are merging, contracting or just plain closing, Tribal Capital Markets is doing exactly the opposite – it’s expanding into new spaces and hiring talented muni professionals with the backing of the Morongo Band of Mission Indians.

Two Illinois community colleges were downgraded by Moody’s because of the state's budget woes.

Chicago launches website financial portal to broaden investor and public outreach.

Puerto Rico’s April economic activity index fell 2% in April from a year earlier, signaling continued weakness as the island government embarks on its record breaking municipal debt restructuring.

Illinois spreads widened as investor confidence waned that the state can resolve its budget deadlock.

The municipal market figures to get back to a more normal issuance level this week, giving participants an array of choices.

Municipal bonds remained stronger at mid-session along with U.S. Treasuries after the release of a mixed employment report for May.