Markets

S&P lowered its outlook to negative, citing constraints from the four-month impasse.

Municipal bonds were unchanged at mid-session as the big New York City Transitional Finance Authority deal was priced for retail investors.

The municipal bond market will see more volume than it has in a while, as almost $10 billion of new deals are set to hit the screens this week.

The Empire State Manufacturing Survey showed "business activity grew at a robust pace in New York State."

The short-term lifeline will enable the commonwealth to make Medicaid payments while it will lacks a revenue plan.

The U.S. Virgin Islands government is seeking federal money to cover hurricane-related expenses and revenue shortfalls.

The primary muni market is set for nearly $10 billion in weekly volume, as deals from Illinois, New York and California dominate the calendar.

The prairie state plans $6 billion of general obligation borrowing over the next two weeks, offerings expected to lure investors with unusually rich yields for a sovereign state credit.

The record $2.5 billion of refunding bonds from North Texas Tollway Authority attracted $19 billion of orders.

Top-shelf municipal bonds were stronger at mid-session, according to traders, who are looking ahead to the next week's almost $10 billion new issue slate.