Commonwealth of Pennsylvania

Retail and institutional municipal bond investors hope volume of nearly $9 billion is a sign of consistent elevated weekly volume for the remainder of the year.

With nearly $9 billion in volume, thanks to a large refunding deal, market participants expect issuance will remain strong as issuers try to beat tax reform.

Refundings on the calendar for the week ahead spurred speculation that issuers may rush deals to market before they are banned by the GOP tax plan.

More states and localities moved ahead with infrastructure financings in October, as issuers gained confidence the municipal tax exemption will remain in place.

The Pennsylvania governor could borrow against tobacco revenues or against profits from the state-run liquor system.

Joe Torsella cited the legislature's approval of a revenue package to balance the fiscal 2018 budget.

State-related and other schools are taking a good, hard look at their business models.

Legislative leaders say the move will plug a $2.2 billion budget shortage and end a nearly five-month budget impasse.

The petition calls the $1.25 billion budget-balancing move unconstitutional.

Senate consideration is next as Pennsylvania winds through the fourth month of its budget stalemate.