News and Information from Bond Buyer

After the next rate hike, the Federal Reserve should consider “a very gradual normalization” of its balance sheet, Federal Reserve Bank of Boston President and CEO Eric S. Rosengren said Wednesday.

Florida Gov. Rick Scott may veto the Legislature's $82.4 billion budget.

A Boston firm will replace Aon Hewitt as investment consultant for Connecticut state pensions.

Municipal bond prices were stronger at mid-session as traders saw more supply hit the market, led by issuers in California, New York and Pennsylvania.

Labor market “activity increased and momentum remained high in April,” as the Federal Reserve Bank of Kansas City Labor Market Conditions Indicators (LMCI) climbed to 0.40 in April from 0.28 in March, according to the Bank.

NABL issues revised issue price certificates to help market participants comply with new rules that take effect next month.

The municipal bond market will see a spate of new deals enter the market on Wednesday, led by issuers in Hawaii and Texas as well as California and New York.

Illinois gets tongue lashing from research group over impasse as senate efforts at compromise build.

Road funding plan divides Wisconsin lawmakers as Oregon gets first glimpse of $5 billion proposal.

Bankruptcy experts and political observers say states would have a hard time getting restructuring power.

Municipal bonds ended weaker on Tuesday as deals from Cuyahoga County, Wisconsin, Hawaii, the city of Los Angeles, San Francisco BART and the New York MTA hit the market.

Hawaii lawmakers' failure to reach an deal to fund Honolulu rail could jeopardize federal funds.

New York City's Health + Hospitals unit expects to close fiscal 2017 with a $100 million balance.

Senators urge tax regulators to clarify tax requirements for tax-exempt bonds used to refinance student loans, saying this will help reduce soaring student loan debt.

Illinois lacks a path to restructure state debt but Puerto Rico's filing heightened chatter.

New York City could benefit to the tune of $200 million when the Grammy Awards returns to the city in 2018, New York City Mayor Bill de Blasio said.

The Puerto Rico Oversight Board extended the deadline for Gov. Rosselló to submit the FY2018 budget by two weeks.

The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 1/2% coupon at a 1.572% high yield, a price of 99.789820.

Municipal bonds weakened as deals from Cuyahoga County, Wisconsin, Hawaii, the city of Los Angeles, San Francisco BART and the New York MTA hit the market on Tuesday.

New Jersey Gov. Chris Christie vetoed a bill to grant state public safety unions control over their pension investments.