Markets

The RTA is facing state funding cuts but the new Illinois budget at least provides more funding certainty.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices fell three basis points to 4.02% from the previous week's 4.05%.

Top-rated municipal bonds ended weaker on Thursday, traders said, as primary offerings dwindled down to a few last big deals.

The Treasury Department Thursday sold $20 billion 14-day cash management bills, dated August 1, due August 15, at a 1.010% high tender rate.

The Treasury Department auctioned $28 billion of seven-year notes, with a 2 1/4% coupon and a 2.126% high yield, a price of 99.993528.

All Aboard Florida foes urged USDOT to use “extreme caution” reviewing a loan for the train project.

Top-rated municipal bonds were mixed at midday, traders said, as primary offerings dwindled to a few large deals.

The number of U.S. building permits issued in June was revised up to an increase of up 9.2% to a 1.275 million unit annual rate, the Commerce Department's Bureau of the Census said Thursday.

The municipal market will see primary offerings dwindle down to a few large deals on Thursday as traders keep a wary eye on bond yields.

Initial claims for U.S. state unemployment benefits rose by 10,000 to 244,000 in the July 22 week, following a small upward revision to the claims level in the previous week, data released by the Labor Department Thursday showed.