News and Information from Bond Buyer

Top-rated municipal bonds finished steady to stronger on Monday, according to traders, as the market looked ahead to what should be an exciting week with about $7.2 billion of new supply set to be sold.

Construction delays at the 72nd Street station could jeopardize the planned December opening of the Second Avenue subway line, New York MTA officials say.

The Chicago Infrastructure Trust is soliciting private partners to overhaul the city and park district’s outdoor public lighting system.

Kentucky legislators passed a biennial budget that cuts state agency and higher education funding in order to contribute $1.28 billion toward its underfunded pensions.

Maryland is seeking a federal FASTLANE grant to expand a subsea rail tunnel that moves freight at the Port of Maryland.

The positive rating drift for U.S. public finance that began in 2014 persisted through 2015, according to a Fitch Ratings report.

The Municipal Securities Rulemaking Board will move forward with a revised proposal that would mandate municipal securities transactions be closed out within 20 instead of 30 days of settlement, Lynnette Kelly, the MSRB’s executive director said on Monday.

Ramapo, N.Y.’s A1 rating from Moody’s Investors Service is on review for downgrade in the wake of federal fraud charges alleging misstatements of financial reporting.

The West Texas oil capital of Midland, Texas, saw its Moody’s rating cut to Aa2 from Aa1 with an outlook that remains negative.

Top-rated municipal bonds remained stronger at mid-session, according to traders, as the market looks ahead to what should be an exciting week with about $7.2 billion of new supply set to be sold.

Whether the cause of the slowdown is weak personal-income growth, income-tax cuts, or the collapse of oil prices, pressure on governors and legislators to balance their budgets will be intense.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.220% high rate, down from 0.230% the prior week, and the six-months incurred a 0.350% high rate, unchanged from 0.350% the week before.

Assured Guaranty led the charge again, for par value of bonds wrapped, while Orrick Herrington & Sutcliffe LLP maintained its position atop the bond counsel rankings.

The Federal Open Market Committee will be gradual and cautious in raising the fed funds rate target, Federal Reserve Bank of New York President William Dudley said Monday.

The Securities and Exchange Commission’s municipal enforcement unit could be bringing more cases with concurrent criminal charges in the future as it plans to increase its coordination with the Department of Justice and the Federal Bureau of Investigation.

The Treasury Department said Monday it will sell $35 billion of four-week discount bills Tuesday.

An international consortium of investors and project developers plans to issue $272 million of private activity bonds to build toll lanes in one of the Houston area’s most congested corridors.

President Barack Obama, Vice President Joe Biden and their wives released their 2015 federal income tax reforms on Friday, with neither showing any municipal bond holdings or tax-exempt interest.

Bond Dealers of America will be working on a full plate of issues this year as it helps its members navigate recent and ongoing regulatory developments while maintaining its educational and Capitol Hill-centered work, said new BDA board chair John Fechter.