News and Information from Bond Buyer

The Greater Cleveland Regional Transit Authority faces a $20 million budget gap because of changes in state tax distribution.

An expiring cap on New Jersey police and firefighter raises pressure on local government finances, according to Fitch Ratings.

The Treasury Department auctioned $28 billion of seven-year notes, with a 2 1/4% coupon and a 2.370% high yield, a price of 99.230576.

The Connecticut governor cited recent changes to the state employee pension system as a parallel.

At least two economists have been interviewed for the position of Federal Reserve vice chair, last held by Stanley Fischer, who resigned earlier this year, according to reports.

The Treasury Department said it will auction $20 billion year bills on Jan. 2.

While there are no major bond issues on the slate for Thursday, one deal that is garnering some attention is next week's $381 million offering from the New Jersey Economic Development Authority

Increased demand on power grids driven by electric vehicles is viewed as a bright spot for utilities.

The Chicago Business Barometer rose to 67.6 in December, its highest since March 2011.

Initial jobless claims remained at 245,000 in the week ended Dec. 23, the Labor Department said Thursday.

IRS muni regulatory priorities for 2018 include rules on bond reissuance and final rules on notice and approval of private activity bond-financed projects under TEFRA.

Municipal bond market experts want clarification from the IRS on a few regulations and expect the agency to move ahead with its new data driven audit process.

Muni yields dropped five basis points for the second day in a row, as volume and participants were scarce.

After granting an expansion franchise to Nashville, Major League Soccer has Cincinnati, Detroit and Sacramento on the hook.

The pioneer in electronic muni data celebrated its 25th year with a new product that addresses the market's need for best execution.

The Treasury Department auctioned $34 billion of five-year notes, with a 2 1/8% coupon, a 2.245% high yield, a price of 99.435896.

The SEC's Fixed Income Market Structure Advisory Committee has liquidity on the agenda for its first open meeting, scheduled for Jan. 11.

The USDOT's approval of the allocation triggered threats from opponents that legal action will be taken.

The Treasury Department Wednesday auctioned $13 billion of one-year 10-month floating rate notes with a high discount margin of 0.035%, at a 0.048% spread, a price of 100.023603.

Yields have gone further south as minimal action occurs in the primary and the secondary, with most market participants on hiatus until after the New Year.