Markets

Puerto Rico plans to help its Highways and Transportation Authority through an oil tax increase and the sale of bonds from a new authority.

The weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell two basis points in the week ending Oct. 30 to 4.35%.

Michigan's decade-long policy of repeatedly cutting local aid to help deal with its own fiscal problems has helped drive some of its local governments into fiscal crisis, the Chicago Fed says in a new report.

Toll roads across the nation can expect to see higher volumes of traffic as lower fuel prices encourages more driving, according to Moody's Investors Service.

A $1.6 billion Liberty Development Corporation nonrated financing for the 3 World Trade Center Tower project will thunder into the primary market this week, giving investors a rare opportunity to grab triple-exempt, high-yield bonds from a large specialty state, municipal sources said.

Inflows for all municipal bond funds declined by 90.8% as investors pulled money out of long term and high yield funds.

Connecticut will become the latest state to issue green bonds, state Treasurer Denise Nappier announced Wednesday.

Orrick Herrington & Sutcliffe LLP and Hawkins Delafield & Wood LLP maintained their positions atop bond counsel rankings as muni volume sank in the first nine months of the year, while former No. 3 Squire Patton Boggs, fell out of the top 10.

Chicago's general obligation bond ratings will remain pressured until the city fully fixes its pension mess, top city finance officials told alderman, while warning City Council not to expect to use reserves to ease the pain of a coming $550 million pension spike.

A refunding deal assembled by the County of Los Angeles Redevelopment Refunding Authority triggered some positive rating actions for debt issued by the former Community Redevelopment Agency of Los Angeles.