The Treasury Department yesterday auctioned $35 billion of four-week bills at a 0.130% high yield, a price of 99.989889. The coupon equivalent was 0.132%. The bid-to-cover ratio was 3.44. Tenders at the high rate were allotted 24.08%. The median yield was 0.100%. The low yield was 0.050%.
Preliminary November issuance figures are at $37.054 billion, up 45.5% year-over-year, according to LSEG.
Bond issuers in the water sector are concerned about a reduction in WIFIA loan closings as some point to competition from municipal bonds as a cause for a decline in their popularity.
22 municipalities are suing the state over vehicle-license fees they say California has failed to pay them.
Moody's cited narrowing financial flexibility and declining debt service.
Moody's Ratings has put McLaren Health Care Corporation's A1 revenue bond ratings under review for downgrade after Indiana ended a key Medicaid contract with the company.
Wisconsin's February deal introduced a fixed spread tax-exempt tender that saved taxpayers millions — and won The Bond Buyer's Deal of the Year award in the innovation category.
