News and Information from Bond Buyer

As municipal market participants are awaiting the next step in the tax bill process, they are also preparing for one of the busiest and biggest weeks the market has ever seen.

The Senate’s vote to approve its tax bill means advance refundings are all but dead. The future of private-activity bonds hangs in the balance as the differences with the House’s version are resolved.

As lawmakers worked over the details of tax tax legislation, municipal market participants prepared to embark on what may be a record-setting week for issuance.

Both the House and Senate bills would end Puerto Rico’s status as an offshore tax haven.

Navnoor Kang, the former director of fixed income for the New York State Common Retirement Fund, has pleaded guilty to criminal fraud charges.

The state increased the size of the deals by 70%, with its bond finance director citing plans by "the clowns in D.C." to outlaw advance refundings.

The county says it's closer to an agreement to build a criminal justice center at new location.

The California Infrastructure and Economic Development Bank approved $321 million in nonprofit conduit sales this week.

The former mayor of Markham, Ill., solicited and received a $75,000 bribe from a contractor in return for giving him work on a bond-financed project.

The Central Florida Expressway Authority says its deal pricing Tuesday could be up to $347 million.

After a busy week, the muni market is preparing for one of the biggest weeks in history, with an estimated $17.4 billion deals.

Long perceived as clunky and stagnant, the Massachusetts Bay Transportation Authority is recrafting itself under control board oversight.

The author is deeply concerned the House bill would eliminate the tax exemption for private activity bonds and that both bills would eliminate the advance refunding of municipal bonds.

New York Mayor Bill de Blasio named Dean Fuleihan first deputy mayor and Melanie Hartzog as budget chief.

After a busy week, and some clarity on tax reform, market participants are gearing up for the biggest volume week in some time, as issuers are getting advance refundings in while they still can.

The overall economy grew for the 102nd straight time, the Institute for Supply Management reported Wednesday. Suppliers reported strength in sales.

If the Federal Reserve continues to raise the federal funds rate target, it risks inverting the yield curve, often seen as a precursor to recession, Federal Reserve Bank of St. Louis President James Bullard said Friday.

Muni issuers rushing to get advance refundings done in December before Congress passes a tax bill that terminates them may face a halt in sales of state and local government securities because of the debt limit.

In the week ended Nov. 30, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index rose to 3.99% from 3.95% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Traders saw "a major flip in psychology of the market" as moves to bar private activity bonds and advance refundings met some resistance.