News and Information from Bond Buyer

A number of municipal market groups and firms asked the MSRB in comment letters to create an exemption to its CUSIP rule that would allow placement agents to generally avoid having to obtain CUSIP numbers when they are engaging in private placements, including direct purchases.

Top-rated municipal bonds finished stronger on Monday, according to traders, with a heftier new issue slate on tap for the week. The calendar is composed of mostly negotiated deals, with no competitive sales over $100 million.

The Municipal Electric Authority of Georgia said the bankruptcy of Westinghouse, supplier of new nuclear units at Plant Vogtle for which it has issued billions of bonds, could have a material impact on its financial condition.

Three rate hikes appear to remain appropriate for this year, Federal Reserve Bank of Philadelphia President and CEO Patrick T. Harker repeated Monday, noting they can be spread out.

A federal judge approved the Rhode Island Commerce Corp.’s settlement with the SEC over the state’s failed $75 million deal with videogame company 38 Studios.

San Antonio’s CPS Energy will issue $307 million for improvements to its grid, including installation of smart meters, development of microgrids and diversification of fuel sources.

Congressional budget dispute has frozen more than $1 billion of 2017 federal highway and transit funding to states.

A settlement tied to Flint, Michigan’s water contamination crisis alone won’t tax state finances but it underscores a collective burden that poses longer term pressures, S&P Global Ratings says.

In this new edition of Muni Minute, we turn our focus to The Hill in Washington, D.C., as there will be lots of activity that should be of interest to the municipal market.

The board of New York’s MTA approved contracts aimed at speeding the rebuilding of the L subway line’s Canarsie tunnel by three months, to 15 months.

Top-rated municipal bonds were stronger at mid-session, according to traders, who were set to see a heftier new issue slate on tap.

New York lawmakers failed to reach agreement on a fiscal 2018 budget forcing Gov. Andrew Cuomo to propose an emergency plan to keep state government running.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.790% high rate, up from 0.780% the prior week, and the six-months incurred a 0.910% high rate, up from 0.905% the week before.

The Treasury Department said Monday it will sell $55 billion of four-week discount bills Tuesday.

Responding to a report that downplayed the importance of unfunded public pension liabilities, investors said they value the funded-liability metric and see pensions in general as a significant problem.

According to the ISM's monthly report on business, the ISM index decreased to 57.2 in March from 57.7 in February.

Municipal bond traders are set to see a heftier new issue slate on tap for the week ahead. The calendar is composed of mostly negotiated deals with no competitive sales over $100 million slated for the week.

MarketAxess, operator of an electronic trading platform, hired Nicolle Brescia as its municipal bond sales specialist.

California's state controller wants to strip the state's elected tax board of its most important functions.

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