News and Information from Bond Buyer

Government

In the week ended Oct. 29, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index remained flat at 4.34% from the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Philadelphia’s tax revenues are up $27 million over initial projections for the 2016 fiscal year, according to City Controller Alan Butkovitz.

New York MTA intends to close the main entrance to its Whitehall Street-South Ferry at the lower tip of Manhattan while it completes its $194 million rehabilitation.

Prices of top-shelf municipal bonds finished weaker on Thursday, according to traders, with yields on some maturities rising by as much as three basis points.

Standard & Poor’s said Chicago Mayor Rahm Emanuel's recently adopted tax hike to fund pensions is just one step in the city's long road to financial stability.

Justin Underwood will join Bond Dealers of America on Nov. 16 as federal policy advisor.

The nonprofit OPEN Puerto Rico announced the founding of a municipal financial web site and a municipal financial index Thursday.

The Government Finance Officers Association's executive board recently approved two updated disclosure best practice documents designed to help issuers meet their bond-related disclosure requirements while considering the possibilities of website-based and voluntary disclosures.

The $500 million of federal TIGER grants to transportation projects in 34 states brings the total to $4.6 billion since 2009.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating on the town of Randolph, Mass.' general obligation debt to AA from AA-minus.

Nevada's Clark County School District, the nation's fifth largest, is in the midst of a restructuring that could have repercussions for its outstanding and future bonds.

Oregon will sell $54.3 million of general obligation bonds for veterans’ housing in a negotiated deal next week.

Standard & Poor's Ratings Services said it raised its long-term rating on Pratt County, Kan.'s general obligation debt one notch, to AA-minus from A-plus.

The Treasury Department auctioned $29 billion of seven-year notes, with a 1 7/8% coupon and a 1.885% high yield, a price of 99.034662.

The National Governors Association is calling on newly elected House Speaker Paul Ryan to move transportation and online sales tax legislation.

California’s Richmond Community Foundation will pursue a new social impact bond vehicle with a $3 million revenue bond private placement it hopes to close next month with the local Mechanics Bank.

Prices of top-shelf municipal bonds were weaker at mid-session, according to traders, as a slew of deals came to market in the primary.

The Treasury Department Thursday sold $35 billion 69-day cash management bills, dated Oct. 30, due Jan. 7, 2016, at a 0.070% high tender rate.

The Treasury Department said Thursday it will auction $28 billion 91-day bills and $26 billion 182-day discount bills Monday.