Markets

Top-rated municipal bonds finished stronger on Monday, according to traders, who were looking ahead to Tuesday, when the first of the week’s new issues head into the market.

Indiana’s termination of a troubled highway P3 underscores the financial risks of such projects.

S&P Global Ratings said it lowered its financial strength rating on National Public Finance Guarantee Corp. (National) to A from AA-minus and its long-term counterparty credit rating on MBIA Inc. to BBB from A-minus.

The union rank and file must OK the agreement as a budget deadline nears.

Top-rated municipal bonds were stronger at mid-session, according to traders, who were looking ahead to Tuesday when the first of the week’s new issues head into the market.

Texas factory activity, as measured by the production index, “increased in June,” according to the monthly Texas Manufacturing Outlook Survey conducted by the Federal Reserve Bank of Dallas, released Monday.

Municipal bond traders are looking to see an average sized new issue slate price into the market this week as they eye yields which have been little changed as of late.

Florida’s utilities expect to take on more debt to develop alternative water sources, Fitch Ratings says.

The value of U.S. durable goods new orders fell 1.1% in May, well below expectations for a 0.5% decline, as transportation orders plunged 3.4% and nontransportation orders posted only a modest 0.1% gain, data released Monday by the Commerce Department showed.

The Chicago Fed National Activity Index for May decreased to negative 0.26 from positive 0.57 in April, the Federal Reserve Bank of Chicago reported Monday.