Markets

Municipal bond traders will see a chunky new issue calendar this week as the market’s focus will be on Washington, where Congress will continue to work on tax reform legislation.

The municipal market will get another healthy dose of issuance in the final full week before Thanksgiving. The calendar is chock full of deals from Illinois, as all issuers look to price bonds before the tax laws change.

The GO bonds for climate change and housing will boost the economy, Moody’s says.

The loss of Southwest means enplanement costs go up, reducing its competitive advantage over nearby Detroit.

Chicago's Board of Education is pricing more than $900 million, citing positive rating actions and a better balance sheet.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was lower to 3.92% from 4.00% last week.

Municipal bonds were markedly weaker at midday as market participants remain fixated on the newly released Senate tax reform proposal and how it compares with the House version.

Municipal bond market participants are scanning the news closely for details of tax reform provisions that affect them.

The University of Michigan's preliminary November consumer sentiment index reading was 97.8, compared to the final October 100.7.

Growing pension costs cost the city a rating notch.