Southwest

Fed Chair Powell's Congressional testimony failed to move municipal bond prices ahead of this week's new issue slate.

The municipal bond market is expected to give a warm reception to variety of new issues in the smaller-than-average $4.8 billion calendar.

Bernalillo County and Albuquerque both can issue industrial revenue bonds, but over the past five years, the county has approved 26 such proposals to none from Albuquerque.

Municipal bond volume across the eight-state Southwest region in 2017 fell 9% below its 2016 record.

The municipal market sees a lighter-than-average supply slate of $4.8 billion head their way this week.

Market sources say the week's deals will be `well received,' while a new report cast doubt on prospects for a near-term supply pickup.

Buyers will vie for about $4.8 billion of bonds next week.

New York City had little difficulty completing over $1 billion of bond sales in competitive and negotiated deals on Thursday, even amid concern over rising interest rates.

Buyers are watching warily from the sidelines as the deals sell into an uncertain market environment

The Reno County Commission approved changes Tuesday to a proposed policy on issuing industrial revenue bonds, eliminating a requirement that the business seeking the bonds must create at least 10 jobs with a payroll of at least $250,000.