Markets

New York issuers lead a $9 billion slate.

The negative outlook affects about $1.1 billion in combined GO and lease revenue debt, according to Fitch.

The Public Service Commission said it will reconsider rates at its August meeting.

The comprehensive federal tax bill President Trump signed July 4 is credit negative for universities, Moody's Ratings said.

The market has seen some "weirdness" in the muni curve, said Craig Brandon, co-head of muni investments at Morgan Stanley Investment Management.

Noble Environmental was sued by a shareholder last year in a case that is unresolved as it plans a $250 million tax-exempt debt offering.

"Municipal outperformance against taxable sectors has moved short-term ratios on or through their 252-day moving averages, while intermediate and long maturities are holding at or above average ranges," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.

The U.S. territory is struggling with debt and pension liabilities as its economy remains weak and federal aid is cut back.

Michigan's Great Lakes Water Authority went to market in June with roughly a billion dollars of bonds, part of a complex transaction that included a tender.

"Market volatility is likely to pick up, but the latest development does not constitute an escalation in the trade war," according to UBS strategists.