News and Information from Bond Buyer

The three-months incurred a 1.435% high rate, down from 1.445% the prior week, and the six-months incurred a 1.575% high rate, up from 1.530% the week before.

Municipal bond traders were returning to their desks on Tuesday with their eyes fixed on falling yields as they await a rather quiet primary market.

The workers would join 3,500 already on the island, where 45% of the power authority's customers are still without service after September's hurricanes.

California's population is nearly 40 million, according to the state's Department of Finance.

The state is still unprepared for a recession, according to the Citizens Research Council.

The municipal bond market will see a shortage of new supply kicking off the new year, after experiencing a record-breaking month in which almost $63 billion of bonds sold.

Issuers rushing to close PABs and refunding deals propelled issuance past the single-month record set before 1986 tax reform.

A second lawsuit was filed seeking to stop Gov. Chris Christie’s borrowing plans for new state office buildings.

Donald Guardian, who navigated challenging financial waters in New Jersey’s gambling hub for the past four years, has found a new role with another Garden State municipality 50 miles north.

The municipal bond market will see a shortage of new supply going into the new year, after experiencing a record-breaking month in which more than $61 billion of bonds sold.

Municipal utility districts on the Texas coast enter 2018 with a stable outlook, according to S&P.

While the new tax law may portend a difficult year for the municipal market, higher short-term rates and low supply should propel demand in 2018.

The state faces a $60 million hole in the current fiscal year and more than $200 million for fiscal 2019.

The seasonally adjusted Milwaukee Report on Business increased to 65.57 in December from 59.62 in November, the Institute for Supply Management-Milwaukee reported Friday.

The Midwest Economy Index reversed to positive 0.22 from a revised negative 0.11 in October, first reported negative 0.12, the Federal Reserve Bank of Chicago said Friday.

What do municipal market participants see for tax legislation in 2018?

Congress is expected to renew expired tax breaks for Puerto Rico and qualified zone academy bonds as well as enact corrections for the new tax reform law.

In the week ended Dec. 28, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell to 3.91% from 3.93% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

With the primary market at a standstill Thursday, attention turned to the first major deal of the New Year, a planned sale by the New Jersey Economic Development Authority that’s being challenged in court.

Bond investors’ concerns about the territory's ability to make payments have grown since Hurricane Maria.