News and Information from Bond Buyer

It was a down day in muniland as both prices in the secondary and the size of deals in the primary declined. Top-shelf municipal bonds finished weaker, according to traders, as the last of the week’s supply was downsized substantially.

The Puerto Rico Oversight Board holds its fourth official meeting Saturday, faced with a disagreement with the new governor over what should be in the commonwealth’s ten-year fiscal plan and escalating discord among local politicians.

Republican lawmakers’ aggressive 200-day agenda to overhaul the tax code by August and to repeal the Affordable Care Act, with some replacement by March or April, is certain to worry and mobilize muni market and state and local groups.

Battle Creek, Michigan’s general obligation bonds and issuer default rating took a one notch downgrade to AA-minus from Fitch Ratings.

A new tool to help Ohio cities and counties gauge their fiscal health found that 16 cities and one county meet the threshold for having high fiscal stress.

The Port of Oakland this week asked a large stakeholder task force to look for operating efficiencies in preparation for an ambitious construction agenda this year.

With Florida facing a structural budget imbalance, lawmakers advanced a comprehensive gaming bill that would bring millions in new revenue and establish “predictability for our state budget,” its sponsor said.

Caren Franzini, who led one of New Jersey’s largest municipal bond issuers for nearly two decades, died Wednesday after a battle with breast cancer. She was 57.

California's cost for retiree health and dental benefits has grown to $76.68 billion, according to a report from State Controller Betty Yee.

President Trump’s order to streamline environmental permits is expected to ensure that get projects underway sooner.

Attorney Mitchell Holzrichter, who specializes in infrastructure and government work, has returned to Mayer Brown’s Chicago office after a stint in Gov. Bruce Rauner’s administration.

The Treasury Department auctioned $28 billion of seven-year notes, with a 2 1/4% coupon and a 2.335% high yield, a price of 99.454010.

The Port of Authority of New York and New Jersey should cease to own or operate transportation infrastructure, substituting ownership with private concession agreements, said a report.

Top-shelf municipal bonds were weaker at mid-session, according to traders, while the last of the week's surge of supply came to market on Thursday.

Drought-inspired water and wastewater projects in California are moving forward despite record rainfall this year.

The Treasury Department said it will auction $20 billion year bills on Jan. 31.

The Treasury Department said Thursday it will auction $34 billion 91-day bills and $28 billion 182-day discount bills Monday.

Manufacturing activity in the Federal Reserve Bank of Kansas City's region "continued to expand moderately with strong expectations for future activity" in January, according to the bank's monthly manufacturing survey, released Thursday.

Indicator Last Report Forecast Actual Initial Claims 1/14: 237,000 1/21: 245,000 1/21: 259,000 Continuing Claims 1/7: 2.059M 1/14: 2.045M 1/14: 2.100M Leading Indicators Nov.: +0.1% Dec.: +0.5% Dec.: +0.5% New Home Sales Nov.: 598,000 Dec.: 586,000 Dec.: 536,000

Assured Guaranty and Orrick, Herrington & Sutcliffe LLP held onto their top spots in the municipal bond insurance and bond counsel league tables in 2016, a year that set a record for long-term muni volume.