Markets

New Jersey lines up $400M sale with outlook boost

The economy grew faster from late February through early April while consumer spending increased, with a possible rise in inflation in the near term, according to the Federal Reserve’s Beige Book released on Wednesday.

Ohio's Summa Health is selling $310 million of taxable corporate CUSIP debt Wednesday.

One-year municipal debt has fallen to record lows with benchmark yield curves at 0.05% and the 10-year muni has fallen below 1% while 30-year muni benchmark yields at or less than 10-year UST.

The commonwealth's largest public pension fund acknowledged an erroneous investment return that was just high enough to avoid triggering a teacher risk-sharing provision.

Rating agency moves on credits across the spectrum are pushing spread-tightening in munis, but the broader economy is still two years away from pre-pandemic levels, according to Federal Reserve Bank of Boston President Eric Rosengren.

Chicago's investors will be on the hunt for answers to how the city intends to use federal dollars, including whether it's going to scrap scoop-and-toss plans and meet rising pension contributions.

Ratios aren't budging as municipal to UST outperformance is not abating. The three largest deals of the week will be taxable, increasing the demand component for exempt paper.

Municipal bond issuers in the State of New York accounted for half of the top 10, while issuers from California held two of the top four spots.

Buoyed by a ratings upgrade from Moody's, the state still faces challenges including high debt and legacy costs.