News and Information from Bond Buyer

Prices of top-quality municipal bonds finished weaker on Thursday, traders said, as the last of the week's big new issues came to market led off by a large sale from an issuer in the Bay State.

Newly issued Treasury securities held in stripped form increased about $3.319 billion in October to a total of $215.143 billion, the Bureau of the Public Debt reported Thursday.

The Alaska legislature has passed legislation appropriating almost $150 million for a gas pipeline project that Alaska Gov. Bill Walker has said will be key to closing the state's $3.5 billion budget deficit gap.

Concerns over the size of Cook County, Ill.'s sales tax hike to shore up pensions overshadows other accomplishments in board President Toni Preckwinkle's proposed budget, the Civic Federation of Chicago said.

Kroll Bond Rating Agency entered a new partnership with current shareholder and investor Wharf Street LLC to own a majority stake in the firm and pump new capital into the rating agency for future growth and expansion.

Hawkins Delafield & Wood LLP is opening a new office in Ann Arbor, Mich., the firm announced Thursday.

Blaming rising pension costs, two rating agencies have downgraded Dallas' general obligation rating as the city prepares to issue $227 million of bonds.

In another sign of Texas' faltering energy economy, sales tax revenue for October fell 5.4%, according to Comptroller Glenn Hegar.

The House adopted a six-year, $325 billion transportation funding measure that must be reconciled by Nov. 20 with Senate's $342 billion plan.

Although he sees liftoff as "a close call," Federal Reserve Bank of Atlanta President and CEO Dennis Lockhart said Thursday risks that led to the Federal Open Market Committee holding rates at its last two meetings are dissipating and "the case for liftoff will continue to firm up."

The relatively opaque private placement market, which has been very strong in California, may be slowing down and shifting from a bank-dominated market to a more diverse range of purchasers.

In Tuesday's election, Mississippi voters returned incumbent Republican Gov. Phil Bryant to office while Kentucky voters chose a member of the GOP to succeed their term-limited Democratic governor.

A capital project to provide East Side access in New York to Long Island Rail Road trains is nearly 60% complete, said MTA official Michael Horodniceanu.

Citing a state budget impasse in its fifth month, Moody's downgraded Pennsylvania's pre-default intercept programs for school districts to A3 from A2.

Prices of top-quality municipal bonds were flat to weaker at mid-session, traders said, as the last of the week's big new issues were coming to market on Thursday.

Rep. Nydia Velazquez, D- N.Y., introduced a bill Wednesday that would substantially increase hedge fund reporting requirements in response to ongoing concerns about hedge funds' role in Puerto Rico's financial crisis.

The Treasury Department said it will auction $12 billion year bills on Nov. 10.

The Treasury Department said Thursday it will auction $30 billion 91-day bills and $28 billion 182-day discount bills Monday.

Voters across the Midwest elected new leaders, embraced the borrowing pleas of some school districts while nixing others, and rejected a controversial marijuana initiative in one state.

Municipal bond traders are awaiting the last of the week's big new issues to come to market on Thursday, led by issuers in Massachusetts, Hawaii, California and Georgia.