News and Information from Bond Buyer

Frank Dos Santos has been named head of North America Business Strategy for Markit’s Fixed-Income Pricing service, the firm announced on Tuesday.

Chicago’s second shot at fixing one of its woefully underfunded pension funds offers investors at least a small sign of progress, several market participants said.

Top-shelf municipal bonds finished weaker on Tuesday, traders said, as a slew of new supply surged into the market.

The directors of the Federal Reserve Bank of Cleveland and San Francisco have joined the Kansas City and Richmond Feds in requesting a quarter-point increase in the discount rate, according to minutes of the Federal Reserve Board's April discount rate meeting, released Tuesday.

House Appropriations Committee adopted a proposal to increase highway and transit funding by $1.25 billion in 2017.

A ballot measure injecting $3.5 billion into Arizona's K-12 education passed by a razor thin margin for a result that S&P Global Ratings said could be a short-term positive for state and school district credits, with a much less certain long-term impact.

Smaller Ohio governments would enjoy easier bond market access at lower costs through a state bond bank, say supporters of legislation that is advancing in the state legislature.

New York City projects a $3.4 billion surplus for fiscal 2016 amid rising concerns for the near future, says state Comptroller Thomas DiNapoli.

The Treasury Department Tuesday auctioned $26 billion of two-year notes with a 7/8% coupon at a 0.920% yield, a price of 99.911026.

Analysts said the minimal allotment to debt service and a lack of other spending cuts add fuel to the argument that an outside control board, as being considered in the U.S. House of Representatives, is needed.

Top-shelf municipal bonds were weaker at mid-session, traders said, as new supply surged into the market.

The Treasury Department Tuesday auctioned $20 billion of 364-day bills at a 0.685% high yield, a price of 99.307389.

The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.265% high yield, a price of 99.979389.

Atlantic City would avoid an immediate default and get more time to avert a state takeover under compromise legislation moving forward in the New Jersey legislature.

The Puerto Rico Electric Power Authority intends to increase rates by 4.3 cents per kilowatt-hour, it announced Tuesday.

Market participants need to continue working toward broad disclosure of bank loans, possibly by amending the Securities and Exchange Commission’s disclosure rule to classify the loans as material events for issuers.

Indicator Last Report Forecast Actual New Home Sales March: 531,000 April: 523,000 April: 619,000

Service sector activity "increased at a slower pace in May," according to the Federal Reserve Bank of Richmond service-sector activity survey, released Tuesday.

Manufacturing activity in the central Atlantic region "slowed in May," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, although the manufacturing index slipped to negative 1 in May from positive 14 in April.

Municipal bond traders are waiting to see more volume hit the market on Tuesday, led by the institutional pricing of Connecticut's general obligation bonds.