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Federal Reserve Vice Chairman Stanley Fischer pointed to higher asset prices as well as increased vulnerabilities for both household and corporate borrowers in warning against complacency when gauging the safety of the global financial system.

Illinois isn't the only Midwest state struggling with budget issues.

California lawmakers have approved a plan to borrow up to $6 billion to prepay pension obligations.

Top-quality municipal bonds were weaker at midday, according to traders, who were seeing the first of the week’s new supply light up their screens, led by the big DASNY deal.

Laura Whittall-Scherfee will direct a California agency that finances affordable housing.

One more rate hike should remain appropriate this year, Federal Reserve Bank of Philadelphia President Patrick Harker said Tuesday, although he said he thinks it will take a little longer than he expected for inflation to hit the Fed’s 2% target.

Connecticut's governor asked lawmakers to consider a “mini-budget” should the state miss Friday's deadline.

Texas service sector activity “continued to reflect expansion in June albeit at a slightly slower pace,” according to business executives responding to the Federal Reserve Bank of Dallas' Texas Service Sector Outlook Survey, as the revenue index slid to 14.8 from 15.9.

Service sector activity “improved at a more moderate pace in June,” according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing in the central Atlantic region “improved in June,” according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, as the manufacturing index climbed to 7 in June from 1 in May.

Municipal bond traders are prepped for the week’s new supply to light up their screens on Tuesday, with the retail pricing of the big New York Dormitory deal on tap.

Lawyers for Medicaid recipients will ask a judge to order Illinois to pay nearly $1.1 billion more a month.

Chicago Public Schools closed on the private placement of $112 million of grant anticipation notes.

Illinois house leaders continued to negotiate on budget and policy issues with the clock ticking.

Puerto Rico said the money belongs to the agency as it works through bankruptcy proceedings to reduce its debt.

The Puerto Rico legislature approved a General Fund budget without debt service, leaving it to the Oversight Board to say where money for bond payments will come from in fiscal 2018.

National Public Finance Guarantee's ability to write new business is in question after a downgrade to A, three notches below competitors Assured Guaranty and Build America Mutual, which were both affirmed at AA.

Top-rated municipal bonds finished stronger on Monday, according to traders, who were looking ahead to Tuesday, when the first of the week’s new issues head into the market.

Indiana’s termination of a troubled highway P3 underscores the financial risks of such projects.

The union rank and file must OK the agreement as a budget deadline nears.