State of California

The California Chamber of Commerce supports a developing $8.9 billion bond proposal as well as a $4 billion measure that is already on the June ballot.

Municipal issuers continue to race to market with deals before the calendar turns over, as the tax bill may limit issuance in 2018.

The possibility of the municipal market losing both advance refundings and private activity bonds brought a spike in issuance that's likely to extend into December.

The 12-cent-per-gallon fuel tax increase took effect Nov. 1.

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

Municipal bonds were markedly weaker at midday as market participants remain fixated on the newly released Senate tax reform proposal and how it compares with the House version.

Municipal bond market participants are scanning the news closely for details of tax reform provisions that affect them.

The first of the week's new issuance rolled in on Tuesday as strengthening municipal bond prices allowed underwriters to cut yields on some of the day’s larger deals.

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.