Markets

The Texas city's bond issue will mostly refinance short-term commercial paper into long-term debt and refund some callable Series 2015 bonds.

Market Intelligence analyst Jeff Lipton assigns a stable yet guarded view to airport bonds, highlighting how gateways and large hubs can outperform as fuel costs, travel demand and geopolitical risk evolve — while investors sharpen focus on leverage, rate recovery and cyber defenses.

Chicago postponed the sale of about $292 million of tax-exempt bonds from an $800 million general obligation bond deal.

The Aa2 rating was affirmed, but the negative outlook could raise the stakes as New York lawmakers debate the city's budget gap.

"There was a certain amount of resilience munis had in the last week, comfortable enough with distribution," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital Markets. "But the 10-year Treasury backing up behind 4.20%, it proved to be the catalyst for adjusted bid-sides."

At least two local agencies missed debt service payments after the Cook County, Illinois, treasurer's office was unable to issue property tax bills on time.

This week, "look for deals to get priced to attract demand," said Pat Luby, head of municipal strategy at CreditSights, and Wilson Lees, an analyst at the firm.

The rules could lengthen the procurement timeline for some projects.

The 10th annual event, which was originally scheduled for Oct. 1, will take place next week with the participation of some key city officials.

A detailed plan for issuing the bonds, which will be backed by an extension of a 1% special sales tax, is expected by May 15.