News and Information from Bond Buyer

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In the largest deal from Colorado this year, the Denver suburb of Aurora saved 12.9% on a $437 million refunding, official said.

Lackluster investment returns reported by some of the nation's largest public pension funds signal intensifying fiscal pressure on U.S. state and local governments, Moody's Investment Service said Tuesday.

Government

Indiana closed out fiscal 2016 last month with a slight surplus despite the drain of low gas prices on revenue growth.

Kansas absorbed a downgrade when S&P Global Ratings dropped the state’s issuer credit rating one notch to AA-minus.

House Speaker Paul Ryan, R-Wis., announced on Monday that Sen. Orrin Hatch, R-Utah, would serve as the chairman of the Congressional Task Force on Economic Growth for Puerto Rico.

A new arena for the National Basketball Association's Golden State Warriors remained on track after a San Francisco Superior Court upheld its environmental review this month, although it faces continued appeals and resistance.

Advocates for maintaining the tax-exempt status of municipal bonds tore apart a recent Tax Foundation report that says lawmakers should consider limiting, reforming or eliminating the muni exemption.

Municipal bond traders got a surge of new issuance on Tuesday, ahead of the second day of the monetary policy meeting of the Federal Open Market Committee. Munis ended the day mostly unchanged, according to traders, who said that some yields on the front end of the curve were down by 1-3 basis points.

A small Kentucky municipality’s bond rating is sinking under the weight of a city-owned water park.

Federal corruption charges against a former state treasurer did not motivate a probe of Pennsylvania's two public pension systems, said state Auditor Eugene DePasquale.

The Municipal Securities Rulemaking Board wants to cut in half a proposed requirement that would have mandated municipal securities transactions be closed out within 20 days of settlement after dealer groups urged the self-regulator to do so.

Wisconsin is taking advantage of record low interest rates with about $915 million of general obligation and appropriation-backed bond refundings. Credit: Adobe Stock

Americans favor funding transportation with an increase in the federal gasoline tax dedicated to maintenance.

The Treasury Department auctioned $34 billion of five-year notes, with a 1 1/8% coupon, a 1.180% high yield, a price of 99.733839.

Municipal bond traders got a surge of new issuance on Tuesday, ahead of the of the two-day monetary policy meeting of the Federal Open Market Committee.

The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.270% high yield, a price of 99.979000.

New York's property tax levy cap will be below 1% in 2017, and that is a credit negative for local governments throughout the state that are hampered by an ability to raise revenue, according to Moody's.

The Federal Transit Administration granted Honolulu additional time for a recovery plan to deal with cost overruns on its elevated rail project.