Markets

The capital city has threatened to file bankruptcy in 60 days if it doesn't get sufficient state help.

The value of wholesale inventories rose 0.6% in July, while wholesale sales fell 0.1%, data released Friday by the U.S. Commerce Department showed.

Municipal bond traders on Friday are looking ahead to next week’s new issue calendar, which will be dominated by big bond deals from New York City and Maryland.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.98%, from 3.99% last week.

The offering follows the resolution of legal challenges to toll rate increases.

Mayor Luke Bronin told Gov. Dannel Malloy and lawmakers that Chapter 9 for Connecticut's capital is inevitable if the state cannot pass a budget.

Gov. Bruce Rauner says he will act to authorize $6 billion of borrowing to knock out overdue bills.

Top-rated municipal bonds finished stronger on Thursday, traders said, as the week’s largest deal came to market — the New Jersey Economic Development Authority’s $583 million sale.

Fitch Ratings said the increased costs to complete reactors at Plant Vogtle drove the downgrades.

Newly issued Treasury securities held in stripped form increased about $3.212 billion in August to a total of $254.293 billion, the Bureau of the Public Debt reported Thursday.