News and Information from Bond Buyer

Chicago Public Schools, in its latest financial report, warns of more red ink to come this year and “difficult” decisions next year without additional state help.

The Internal Revenue Service has initiated an audit of $26.5 million of zero coupon bonds issued by an authority in Wisconsin last August to monetize a grant Dallas gave to a company redeveloping buildings that housed the old Statler Hotel and Dallas Public Library.

A fiscal control board has warned New York’s Nassau County to not use reserve funds from its $2.95 billion budget for covering expired tax abatement refunds.

Nearly four and a half years later, San Bernardino has received final approval on its plan to exit bankruptcy.

The Texas Permanent School Fund that guarantees more than $70 billion of public school construction bonds retains top credit ratings despite its increasing support for riskier charter school debt

Top-quality municipal bonds finished unchanged on Monday, traders said, as market participants look ahead to a smaller-than-average new issue calendar. This week’s slate is estimated at $4.03 billion.

The Treasury announced Monday it plans to borrow $57 billion in the first quarter, up from its previous estimate of $56 billion.

A $7 billion borrowing proposal to pay down Illinois' record $11 billion bill backlog would save money compared to the 9% to 12% rate the state pays on its overdue bills, according to the Chicago Civic Federation.

Republicans in Wisconsin legislature ask planners for more realistic estimates of highway project costs.

The Municipal Securities Rulemaking Board will propose to codify its long-time regulatory interpretation that dealers are required to apply for CUSIP numbers when conducting private placements.

Top-quality municipal bonds were unchanged at mid-session, traders said, as market participants look ahead to a smaller-than-average new issue calendar. This week's calendar is estimated at $4.03 billion, comprised of $3.37 billion of negotiated deals and $661.4 million of competitive sales.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.515% high rate, up from 0.505% the prior week, and the six-months incurred a 0.625% high rate, up from 0.600% the week before.

Texas factory activity, as measured by the production index, "activity increased for the seventh consecutive month in January," according to the monthly Texas Manufacturing Outlook Survey conducted by the Federal Reserve Bank of Dallas, released Monday.

The Treasury Department said Monday it will sell $45 billion of four-week discount bills Tuesday.

With backing from President Donald Trump and Texas Gov. Greg Abbott, proponents of school vouchers see their best opportunity in years to shift tax dollars to private schools in the name of "school choice."

The Puerto Rico Oversight Board extended the stay on debt-related litigation to May 1 and the deadline for the governor to submit a 10-year fiscal plan to Feb. 28.

Indicator Last Report Forecast Actual Personal Income Nov.: +0.1% Dec.: +0.4% Dec.: +0.3% Consumption Nov.: +0.2% Dec.: +0.5% Dec.: +0.5% Core PCE Price Index Nov.: unch Dec.: +0.1% Dec.: +0.1% Pending Home Sales Nov.: -2.5% Dec.: +1.1% Dec.: +1.6%

Pending home sales increased 1.6% to an index reading of 109.0 in December, after an unrevised 2.5% drop to 107.3 in November, according to a report released Monday by the National Association of Realtors.

Municipal bond market participants are looking at a smaller-than-average new issue calendar this week as Ipreo estimates volume at $4.03 billion. The slate is composed of $3.37 billion of negotiated deals and $661.4 million of competitive sales.