Markets

The U.S. services sector continued to expand in November although at a slower pace than in the previous month as the non-manufacturing business activity composite index was 57.4 versus to 60.1 in October, on a seasonally adjusted basis, the Institute for Supply Management reported Tuesday

The municipal bond market will face a second busy day as more supply is set to hit the screens on Tuesday.

The U.S. international trade gap widened to $48.7 billion in October, a larger gap than the $47.5 billion deficit expected and following a revised wider $44.9 billion gap in September.

The goal is to provide bond investors with easy access to the port's financial data.

Chicago's new borrowing entity brings $575 million of sales tax securitization bonds to market this week.

New York City offered $850 million of general obligation bonds to retail buyers while the Metropolitan St. Louis Sewer District, Mo., presented a $317 million refunding deal to retail investors and the Pennsylvania Turnpike’s $260 million of bonds priced.

A portion of the Oklahoma Turnpike Authority's $410 million deal may well be its last advance refunding.

Municipal market participants are preparing and bracing for a market without advance refundings and perhaps private activity bonds as major tax changes draw closer. Municipal issuers are coming together and giving the market one last gasp of these types of bonds before they are no longer allowed to do so and in the process, have created what could potentially be a historic $17.4 billion of issuance.

New York City offered $850 million of general obligation bonds and the Metropolitan St. Louis Sewer District, Mo., offered a $317 million refunding deal to retail investors on Monday as the Pennsylvania Turnpike came to market with its bonds.

Investors plan to make the most of the volume blitz and higher yields in the last month of the year, as issuers rush to market ahead of a sweeping tax law overhaul.