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The Moody's downgrade comes amid large losses and higher capital spending.

Gradually raising interest rates remains appropriate, including a 25 basis point increase in December, Federal Reserve Bank of Boston President Eric Rosengren said.

The Illinois Tollway's $300 million deal and the first part of the Chicago Board of Education’s $922 million bond offering came to market on Wednesday. In secondary trading, municipals were stronger on the day.

Florida Gov. Rick Scott has endorsed another record budget for the state: $87.4 billion for fiscal 2019.

Smaller not-for-profit hospitals and systems lack the access to taxable debt markets enjoyed by bigger systems.

Two GOP Representatives argued that the Puerto Rico Oversight Board should be given additional powers over the Puerto Rico Electric Power Authority.

The first part of the Chicago Board of Education’s $922 million bond offering came to market on Wednesday as the board’s $64.9 million of dedicated capital improvement tax bonds were priced.

Without tax-exempt private activity bonds, charters would have to turn to more expensive and restrictive capital sources.

Two big deals from Illinois issuers are scheduled for sale on Wednesday as the Chicago Board of Education gets set to hit the market with the first part of its double-barreled offering and Illinois toll bonds are slated to be priced.

The Empire State Manufacturing Survey showed "business activity continued to grow strongly in New York State."

The Federal Reserve should take a more aggressive stance toward boosting inflation and stop talking so much about using interest rates to ensure financial stability, Chicago Fed President Charles Evans said.

If Congress passes the pending tax bills, BABs and more than $85B of mandatory federal programs would be jeopardized.

The biggest share of the funds, $31 billion, would be used to rebuild homes.

Competitive sales from the states of Washington and Wisconsin and negotiated deals from New York and Illinois issuers dominated Tuesday’s new issue slate.

Budget secretary Benjamin Barnes' latest revenue estimate comes two weeks after lawmakers passed a $41.3 billion biennial spending plan.

Houston's outlook from Moody's Investors Service was boosted to stable from negative.

Chicago officials want to highlight the distinctions between the highly rated new securitization and the city's general obligation bonds.

In a rare public admission of frustration, Janet Yellen chided fellow Federal Reserve policy makers who breach the carefully nurtured collegiality of the bank by staking out policy positions before bothering to hearing the views of their colleagues.

Writing off soft inflation, Federal Reserve Bank of Atlanta President and CEO Raphael Bostic believes gradual rate increases will remain appropriate for the “next couple of years,” but tax reform "could move the needle."

Issuers of conduit debt would lose their primary purpose if Congress eliminates private activity bonds.