News and Information from Bond Buyer

The threat of a junk bond label took center stage when Illinois lawmakers passed a budget.

Georgia’s economy continues on an upward trajectory, according to Gov. Nathan Deal.

Maryland lawmakers say abrupt cancellation of proposed FBI HQ swap puts national security at risk.

Fitch Ratings lowered the Sooner State to AA from AA-plus.

A House panel’s 2018 spending bill includes up to $900 million for the Gateway Project in New York.

California firm 280 CapMarkets offers cloud-based trading software for independent advisors.

The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 1/2% coupon at a 1.573% high yield, a price of 99.787217.

Calling the “normalization of the federal funds rate … well under way,” Federal Reserve Board Governor Lael Brainard said it is almost time for balance sheet run off.

The pricing on the New York City Transitional Finance Authority’s $1.01 billion deal was accelerated by a day as top-quality municipal bonds turned mixed on Tuesday.

The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.950% high yield, a price of 99.926111.

Richard Ryffel of Washington University in St. Louis discusses the July 16-17 Brookings Municipal Finance Conference in Washington, DC, which attracts academics, practitioners, issuers and regulators. Hosted by Paul Burton.

Gov. Tom Wolf bought time to pass the bills necessary to fund Pennsylvania's $32.2 billion spending plan.

California June revenues were 2.5% below projections outlined in last year’s budget.

There are times when there is no better alternative to a tax increase.

The municipal bond market on Tuesday will see more supply head its way with the second day of retail orders being held on the New York City Transitional Finance Authority’s $1 billion of building aid revenue bonds and deals expected from Los Angles and Philadelphia.

Small business owners’ optimism fell in June, as did hiring plans, according to the National Federation of Independent Business' monthly Small Business Optimism index published Tuesday.

President Trump will nominate Randal Quarles as the Federal Reserve's vice chairman of supervision, the top bank regulatory post at the central bank, according to an announcement by the White House late Monday.

Lawsuit seeks to force a vote on the $34.5 million public funding portion of the Pistons deal.

Municipal bonds ended mixed on Monday, according to traders, as the New York City Transitional Finance Authority’s $1 billion of building aid revenue bonds were priced for retail investors and the Chicago Public Schools came to market with an unrated bond deal.

The unused allocations stand at $150.3 million for governmental bodies and $179.36 million for cooperative electric companies.