Markets

The plan would raise power costs, but analysts say municipal utilities and energy cooperatives can absorb the increases or pass them on to customers.

Municipal bonds were mixed with some Puerto Rico issues trading higher as the primary saw a bevy of new deals hit the screens.

First quarter nonfarm productivity was revised down to a 0.4% gain, while unit labor cost growth was revised up to a 2.9% pace, the strongest in a year.

The U.S. international trade gap narrowed to $46.2 billion in April from $47.2 billion, a much smaller gap than the $48.8 billion deficit expected.

The city will decide whether to apply the designation to an upcoming deal to fund housing for homeless people.

The municipal bond market saw billions of dollars of bonds hit the screens on Tuesday.

The muni industry's self regulator said issuers have found underwriters' disclosure letters to be too long, filled with boilerplate, and duplicative.

Municipal analysts see the holes in the spending plan, but secondary market traders reacted positively.

The muni market saw several large deals hit the screens Tuesday from issuers in California, Seattle and Connecticut.

The U.S. services sector expanded at a faster pace in May as the non-manufacturing index rose to 58.6 from 56.8 in April.