News and Information from Bond Buyer

Four investment funds holding COFINA senior bonds are claiming Bank of New York Mellon breached its duties as trustee.

West Virginia Gov. Jim Justice likened the fiscal 2018 budget passed by the legislature to a “death certificate,” as he vetoed the spending plan.

In the week ended April 13, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell five basis points to 4.18% from 4.23% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Municipal market participants will come back to work after a long holiday weekend to almost $7 billion of new issuance, highlighted by another billion dollar deal from California.

Gov. Dannel Malloy said he would devote the rest of his term to patching up Connecticut's economy.

Guam is looking to issue short-term debt to pay tax refunds to its citizens.

UBS Wealth Management Americas is looking to revive its capital markets and public finance businesses, hiring Peter Hill from Wells Fargo and Steven Genyk from Janney, and reassigning Chief Risk Officer Mark Sanborn to head capital markets and sales.

Municipal bonds were trading stronger at midday, according to traders, who were wrapping up their business ahead of the full market close for Good Friday. Ipreo estimates municipal bond volume for next week at $6.82 billion.

Dannenberg says regulators are losing sight of rules' goals, making them complex and burdensome.

The Treasury Department said Thursday it will auction $39 billion 91-day bills and $33 billion 182-day discount bills Monday.

St. Louis and other public bodies accuse the NFL of improperly approving the Rams move.

Bond Dealers of America chair Tom Dannenberg discusses how some recent muni market rules seem to be losing sight of their goals and creating unneeded complexity, burdens, costs and liabilities for dealers and other market participants. Hosted by Jack Casey.

Hard Rock International unveiled plans this month for a $375 million makeover of Atlantic City’s shuttered Trump Taj Mahal Casino Resort in a move elected officials hope will help spur the debt-ridden Jersey Shore resort back to prosperity.

The University of Michigan's preliminary April consumer sentiment index reading was 98.0, compared to the final March 96.9 and the preliminary March 97.6, according to market sources.

Municipal bond traders were wrapping up their business on Thursday ahead of the full market close for Good Friday. Trading will resume after the Easter weekend on Monday, April 17.

San Diego scored a victory on a pension reform measure approved by voters in 2012.

NABL urges OMB to force SEC to be more realistic in estimating burdens for disclosure proposals.

Chicago Public Schools could find out as soon as next week whether the courts will intervene in its pleas for more state funding.

Municipal bonds finished mixed on Wednesday as the state of California competitively sold about $604 million of general obligation bonds.

The federal government ran a $176.2 billion deficit in March, the Treasury Department reported Wednesday.