Northeast

The modified budget plan banks on new revenue initiatives that face an uncertain political fate.

Despite municipals being a little sidetracked as Treasuries weakened, traders said there was a more constructive nature overall to the market on Tuesday.

Retail buyers were offered the chance to buy the New Jersey Tobacco Settlement Financing Corp.’s subordinate tobacco settlement bonds.

The budget approved over the weekend fails to address long-term fiscal challenges, according to analysts.

The second-quarter kicked off Monday with a little more optimism among municipal market participants after "one of the worst quarters in a long, long time."

The St. Louis-based firm enters its second century of business this year.

The competitive issuance will include roughly $35 million of taxable bonds.

The Tobacco Settlement Corp. is coming to market with over $3 billion of municipal bonds in a refunding deal that takes out all of the securities issued back in 2007.

The New Jersey legislature again passed legislation to hand police officers and firefighters control of their pension fund.

Proponents call the move the right medicine for ailing Connecticut, while opponents say the measures are overly restrictive.