Markets

While the legislation heading to Gov. J.B. Pritzker's desk will not affect CPS' rating in the short-term, the district's ability to manage labor conflict could affect credit quality over time, Fitch said.

The Municipal Securities Rulemaking Board's request for comment on amendments to its primary offering disclosure rule garnered just two submissions.

Chicago put out pre-marketing pricing scales Tuesday on its STSC new money social bonds and refunding tranches and will take retail orders Wednesday with the pricing set for Thursday.

Demand for muni bonds has slowly started make a comeback, with Jason Wong, vice president of municipals at AmeriVet Securities, saying, "this demand is a welcome sign to the tax-exempt sector as rising yields pushed investors to the sidelines."

Gov. Phil Murphy is behind the push for the Garden State to develop offshore wind power, ramping up from 3,500 megawatts by 2030 to 11,000 megawatts by 2040.

Moody's downgraded St. Mary's College of California to Baa3 with a negative outlook, affecting $53 million in debt issued through the California

Volume for the upcoming week is estimated at $8.34 billion, consisting of $6.30 billion of negotiated deals and $2.04 billion of competitive sales.

Underwriting fees generated for the board totaled some $7.4 million, an almost 50% drop from the $14.3 million the board received in 2020.

The action affects about $312 million of debt. The outlook, previously positive, is stable at the new, higher rating.

These would be the territory's first general obligation bond issuance since 2019.