Markets

The final tax bill released late Friday afternoon saved private activity bonds but advance refunding bonds will disappear.

Builders’ confidence in the market for new single-family homes increased as the National Association of Home Builders' housing market index climbed to 74 in December.

The New York region's service sector activity "continued to grow at a healthy pace," according to the Federal Reserve Bank of New York's December Business Leaders Survey.

The future accessibility of private activity bonds and stadium bonds is the massive tax bill's gift to the municipal market this holiday season. However, the bill also brings coal in the form of a year-end halt to advance refundings and a drop in the corporate tax rate.

Concerned about the tax bill before Congress, the private passenger train owners want to issue bonds by Dec. 31.

As the exact language of the final tax legislation looms, municipal market participants eager wait to see how it pertains to private activity bonds, there will be $11 billion of issuance awaits as issuers make one final push.

Moody's dropped Wood County Hospital Association to Ba1 and assigned a negative outlook.

The municipal bond market next week will continue to see above-average volume, albeit at a much slower pace than this week, as $11.14 billion of deals are on the calendar.

The rating agency will continue to monitor financial developments in Connecticut's capital city.

The municipal bond market saw deals from far and wide this week as the threat of tax reform changes spurred a rush to issuance that will continue into the next week.