News and Information from Bond Buyer

The Chicago region's Regional Transportation Authority is well short of the funds it needs to address an estimated $37.7 billion 10-year tab for maintenance and capital investments.

After 12 years of co-heading the municipal market group at Citi, Joe Geraci has been promoted and appointed deputy head of the municipal securities division.

Reason Foundation says $12 billion privately financed Texas bullet train proposal would require public funding.

Moody's Investors Service downgraded Dallas' convention center hotel debt one notch to Baa1 but left the city's general obligation rating at A1 after a review period. However, the outlook remains negative due to unresolved pension issues.

The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.480% high yield, a price of 99.962667.

The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 1 1/8% coupon at a 1.230% yield, a price of 99.793189.

The natural rate of interest, or r-star, "will not reverse anytime soon," Federal Reserve Bank of San Francisco President and CEO John C. Williams wrote in an Economic Letter published Tuesday.

Regina Shafer, USAA's Assistant Vice President of fixed-income mutual fund portfolios, recently joined Bond Buyer reporter Chip Barnett to discuss 2017's hot topics -- healthcare and infrastructure. She also looks at market performance, interest rates and correctly forecast muni bond fund flows.

Top-quality municipal bonds were unchanged at mid-session, according to traders who returned to their desks Tuesday after a three-day holiday weekend. They will be looking ahead to a smaller-than-usual new issue calendar that will be pricing into a volatile yield environment.

If the economy stays on track, three 25 basis point rate hikes would be appropriate this year, Federal Reserve Bank of Philadelphia President Patrick T. Harker said Tuesday.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.535% high rate, down from 0.540% the prior week, and the six-months incurred a 0.670% high rate, up from 0.645% the week before.

A change in the credit cycle may be in store for the municipal bond market as the combination of wider-than-average credit spreads and a rising-interest-rate climate threaten to restrain demand for high yield paper.

A Hawaii Senate committee approved a bill that would hike gas taxes, vehicle registration fees and the vehicle weight tax to pay for highway repairs.

Municipal bond market participants are returning to their desks Tuesday after a three-day holiday weekend. They will be looking ahead to a smaller-than-usual new issue calendar that will be pricing into a volatile yield environment.

Stating that he hates to make predictions about changes in monetary policy, Federal Reserve Bank of Minneapolis President Neel Kashkari seemed to indicate Tuesday he still believes the current monetary policy is appropriate.

The region's non-manufacturing sector "activity continued to expand in February," although the general business conditions index fell to 29.3 from 37.7 in January, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

Wednesday, February 22 Issuer St Description Amount

Tuesday, February 21 Issuer St Description Amount

Week Of February 21 Issuer St Description Amount