News and Information from Bond Buyer

Newly issued Treasury securities held in stripped form increased about $1.119 billion in February to a total of $241.062 billion, the Bureau of the Public Debt reported Monday.

Dealers are criticizing a proposed standalone minimum denomination rule from the Municipal Securities Rulemaking Board, saying it would hamper liquidity and hurt investors by limiting the liquidity of below-minimum denomination positions in municipal securities.

The dollar volume of municipal bond trading soared higher last year than in any year since 2012, the Municipal Securities Rulemaking Board found in its 2016 Fact Book released Monday.

California’s High Speed Rail Authority can sell bonds for the Central Valley segment, said the director of California’s Department of Finance.

Former Stockton Mayor Anthony Silva, who occupied city hall during much of the city’s bankruptcy, was arrested at San Francisco International Airport Sunday and stands accused of embezzling money from a nonprofit children’s organization.

A flurry of filings are due over the next month as Chicago Public Schools seeks a ruling by May 1 on its request to block the distribution of state funding under current formulas.

Oklahoma expects strong demand for $70 million of capitol repair bonds despite an S&P downgrade and continuing struggles to cover a nearly $900 million revenue shortfall.

New Jersey Gov. Chris Christie’s new proposal to dedicate lottery revenues to bolster the state’s struggling pension system has been met with skepticism by some lawmakers.

President Donald Trump’s plan to rely on private prisons to house federal inmates and immigration detainees is reviving interest in the high-yield bonds that financed the lockups.

Top-rated municipal bonds were steady at md-session, according to traders as the bond market gets set to see about $10.23 billion of new supply hit the screens this week, with the biggest bond deal of 2017 to date slated to be priced.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.745% high rate, up from 0.515% the prior week, and the six-months incurred a 0.835% high rate, up from 0.670% the week before.

The U.S. infrastructure challenge does not suffer from a shortage of capital. The critical problem is finding added revenue sources to pay back that capital.

The Treasury Department said it will auction $20 billion 6-day cash management bills on March 7.

The Treasury Department said Monday it will sell $15 billion of four-week discount bills Tuesday.

Cities are 'masters of their own destiny' despite the threat of federal funding cuts, New York Mayor Bill de Blasio said at the City Club of Chicago.

Indicator Last Report Forecast Actual Factory Orders Dec.: +1.3% Jan.: +1.0% Jan.: +1.2%

The municipal bond market is set to see about $10.23 billion of new supply hit the screens this week, with the biggest bond deal of 2017 to date slated to be priced.

Investors are mindful of the lessons of Puerto Rico’s financial distress as they chase higher yields and the benefits of interest payments that aren’t taxable by the federal government or by any U.S. state or municipality.

ALABAMA