| Government Securities Prices | 10-year: 98 26/32 to yield 2.51, down 5/32 30-year: 98 12/32 to yield 3.21, down 15/32 |
|---|---|
| Municipal Bond Index | 124 5/32, up 1/32 |
| The Bond Buyer's 30-Day Visible Supply (as of 10/01) | Total: $8.167 billion, up $127.7 million Competitive: $2.412 billion, down $12.1 million Negotiated: $5.755 billion, up $139.7 million |
| The MuniCenter List | Offering total: $9.271 billion, down $92.1 million |
Ahead of a refinancing next week and a new money deal next month, Chicago's spreads have widened, suggesting the market may be pricing in a downgrade, analysts said.
Moody's Ratings said the downgrade "reflects a weakening of the county's financial position."
The RSA and bankruptcy would "significantly deleverage Brightline's balance sheet and greatly improve liquidity," the company said.
The veto means California won't have a new vehicle to fund large-scale infrastructure. Newsom also killed a bill to unwind pension reforms.
Muni yields are succumbing to a "domino effect," said Kim Olsan, portfolio manager at NewSquare Capital.
A three judge panel upheld a lower court rejection of the bondholders' suit against Puerto Rico's central government.
