News and Information from Bond Buyer

Top-rated municipal bonds ended stronger on Tuesday, traders said, as the first institutional issuance of the week hit the screens.

Ohio-based public utility, Dayton Power and Light, plans to shift its business away from coal-fired generation and modernize its grid under an electric security plan that may represent a credit positive.

Tucked into the Illinois Senate's "Grand Bargain" budget legislation is a bill to authorize a new type of local government bond that would benefit Chicago and other home rule communities.

Rep. Steve Russell has introduced a bill that would treat bonds used to finance professional sports stadiums as taxable private activity bonds.

Indicator Last Report Forecast Actual International Trade Nov.: -$45.7B Dec.: -$45.0B Dec.: -$44.3B Consumer Credit Nov.: +25.2B Dec.: +$20.0B Dec.: +$14.2B

Consumer credit increased by $14.2 billion in December to $3.763 trillion, the Federal Reserve reported Tuesday.

California Republicans have asked the Trump administration to block federal aid to the state's high speed rail project.

The debacle in Illinois hovers as Pennsylvania lawmakers debate Gov. Tom Wolf’s proposed $32.3 billion budget.

Projects in South Carolina’s $5 billion infrastructure request includes interstate highway upgrades and harbor dredging.

The city is partnering with community groups to help MWBEs get certified or re-certified as MWBE contractors and then will work with those firms to help them compete for city contracts.

The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1 3/8% coupon at a 1.423% high yield, a price of 99.859519.

Julie Egan, senior vice president and portfolio manager with Community Capital Management, is the new chair for the National Federation of Municipal Analysts, the group announced Tuesday.

Top-rated municipal bonds were steady at mid-session, traders said, as the first institutional issuance of the week hit the screens.

The Treasury Department Tuesday sold $50 billion 34-day cash management bills, dated Feb. 9, due March 15, at a 0.525% high tender rate.

The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.530% high yield, a price of 99.958778.

With inflation below the Federal Reserve's 2% target, and employment near, but not quite at, it's long-term level, Federal Reserve Bank of Minneapolis President Neel Kashkari said Tuesday, he believes monetary policy is appropriate for now.

New Mexico Gov. Susan Martinez's signature on Senate Bill 114 is a negative credit factor for the state's schools, according to Moody's Investors Service. The bill reduces state aid by 2%.

Chicago Public Schools froze $46 million in discretionary funds it distributes to schools and $5 million in administrative spending as the distressed district struggles to close a gap left by Gov. Bruce Rauner's veto of $215 million in state aid for teachers' pensions.

Rhode Island Treasurer Seth Magaziner and activist shareholders met with Wells Fargo CEO Timothy Sloan regarding the bank's fraud.

Though the final Treasury Regulations were greeted as more palatable than versions proposed earlier, a deeper dive results in a list of questions that need to be considered.