Waterbury, Conn., will continue its seven-year absence from new-money bond issuance after officials last week held off on pricing $320 million of taxable pension bonds that would have helped address the city's $460 million unfunded pension liability.

William Blair & Co. was set to price the transaction Wednesday or Thursday, yet the Treasury market showed losses on both days, with yields on the benchmark 10-year Treasury note finishing at 4.01% and 4.08% on Wednesday and Thursday, respectively.

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