Markets

Helped by a stronger revenue backing, Chicago’s remarketing of $112 million of sales tax-backed fared notably better Wednesday than its general obligation issue a week earlier, though spreads demonstrated a substantial market penalty.

Moody's says that hospitals in Medicaid expansion states saw big drops in bad debt and that furthermore, providers across the entire sector saw improved financials in fiscal 2014.

The muni market will have a New York State of mind for the first week in June, as the two largest issues will be coming from the Empire State.

For the week ended May 28, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, decreased two basis points to 4.43% from 4.45% from the previous week.

Financial and investing guru John C. Bogle says municipal buyers should be buy-and-hold investors, not trading speculators.

The Florida Legislature will attempt to bridge an impasse over low income healthcare funding that has left the state without a fiscal 2016 budget and facing a government shutdown.

Volume will drop below $6 billion in the coming week as new issuance tapers off after observance of Memorial Day on Monday.

The market for Florida debt is holding up in the face of a possible government shutdown, while the Chicago market is being penalized with wider spreads, higher yields, and a swell in bid-wanted lists after being downgraded to junk.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, increased four basis points to 4.45% for the week ended May 21 from 4.41% in the previous week.

Municipal credit prospects may be clouded for the next several years by underfunded pension obligations and a possible uptick in bankruptcies, according to panelists at a forum in New York.