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Pennsylvania's new pension legislation does nothing to solve its budget deficit.

Municipal bonds were unchanged in early activity ahead of next week’s above-average new issue calendar. Ipreo estimates volume for next week at $11.78 billion, up from a revised total of $3.47 billion sold this week, according to updated data from Thomson Reuters.

A special session of the Illinois General Assembly will begin June 21.

Rep. Rob Bishop, R-Utah, said Puerto Rico's oversight board is not following PROMESA with regard to the PREPA RSA.

Top-quality municipal bonds finished weaker on Thursday as the last of the week’s larger sales came to market in the primary sector, led by deals from issuers on Mississippi and Hawaii.

The Michigan Senate and House approved changes to the teachers’ pension system as part of a state budget deal.

Four firms paid a combined $102,500 to settle FINRA charges related to violations of MSRB gift and reporting rules.

The Federal Reserve Board said it raised the discount rate to 1.75% from 1.5%, effective immediately.

President Donald Trump’s budget director said he expects the Federal Reserve to continue to run an easy monetary policy even as it unwinds the “unprecedented experiment” that swelled its balance sheet to $4.5 trillion.

New York City will invest heavily in specific industries in an attempt to create 100,000 good-paying jobs over the next decade, according to a plan released on Thursday by Mayor Bill de Blasio.

Philadelphia is maintaining the long-term revenue projections from its new sugary beverage tax despite an early shortfall.

Hudson Yards Infrastructure Corp. requires an additional $96 million, according to the New York City Independent Budget Office.

Los Angeles will price the first bonds from a measure voters approved to house homeless people.

Top-quality municipal bonds were weaker at mid-session as the last of the week’s larger sales came to market in the primary sector.

The judge overseeing Puerto Rico’s Title III bankruptcy process named five judges to help mediate disputes over island government and sales tax bonds in the biggest municipal restructuring in U.S. history.

Builders’ confidence in the market for new single-family homes slipped as the National Association of Home Builders' housing market index fell to 67 in June from a downwardly revised 69 in May.

Municipal bond traders will be waiting to see some supply hit the screens on Thursday, a day after the primary market was sidelined by the Federal Reserve’s monetary policy meeting.

Moody's Investors Service said it upgraded Indiana University Health's (IU Health) ratings to Aa2 from Aa3, affecting approximately $1 billion in debt.

The region's manufacturing sector expanded in June, but at a slower pace than in May, as the general business conditions index decreased to 27.6 from 38.8 in May, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.

The Empire State Manufacturing Survey showed "business activity rebounded strongly in New York State," the Federal Reserve Bank of New York reported Thursday.