News and Information from Bond Buyer

The proposal would benefit bondholders without helping PREPA rebuild the power grid, a government statement said.

Top-shelf municipal bonds were weaker again on Thursday amid ripple effects from the tax reform news announced the day prior.

The withdrawal or reduction ofederal support for healthcare funding would damage the state budget.

RBC Capital Markets announced today the addition of Steve Fortenberry as a vice president in the firm’s K-12 practice of the Texas municipal finance group.

The Treasury Department auctioned $28 billion of seven-year notes, with a 2 1/8% coupon and a 2.130% high yield, a price of 99.967545.

The rating agency says Assured Guaranty and Build America Mutual are open to a traditional bond refinancing, not a bond restructuring or a haircut.

The last issuance of the week started to come in on Thursday, as munis were weaker still.

Sean McCarthy, CEO of Build America Mutual, talks about the state of the municipal bond insurance industry, what has changed since BAM was founded five years ago, and how much exposure it has to the areas affected by hurricanes Harvey and Irma.

The Treasury Department said Thursday it will auction $42 billion 91-day bills and $36 billion 182-day discount bills Monday.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "continued to expand at a solid pace and … firms remained optimistic about the future."

The last issuance of the week is expected to drift in on Thursday, on the heels of yields jumping after details of tax reform were released.

Fitch Ratings said it has withdrawn its ratings for the United States Virgin Islands and the USVI Public Finance Authority.

The tax reform plan does not mention munis and market participants would rather see it in writing than have assurances from the White House.

Puerto Rico's power authority said it may take more than six months to restore electricity and there was a report that the Oversight Board was ready to revise the amount of debt to be paid in the next nine years.

Bonds were hit hard as tax reform details were disclosed.

The subway-improvement plan for New York triggered pushback from board members who say Gov. Andrew Cuomo is overreaching.

Not everyone appreciates the MSRB's disclosure warnings.

The Republican lawmaker said Monday that the tax cap proposal should take priority during the next legislative session.

The economy will “probably not” rebound in the last half of 2017, according to Federal Reserve Bank of St. Louis President James Bullard, and don’t expect inflation to suddenly turn around either.

The Treasury Department auctioned $34 billion of five-year notes, with a 1 7/8% coupon, a 1.911% high yield, a price of 99.829191.