News and Information from Bond Buyer

The Municipal Bond Club of New York is looking to foster the camaraderie that characterized the market in the 1970s, when all of the major firms were located within walking distance and social activity centered at Harry’s at Hanover Square in lower Manhattan.

The authors of a new paper from The Hamilton Project at Brookings propose four short-term and three long-term ways to address the need for infrastructure investment in the United States, including a revival of the Build America Bond program.

Fast-growing areas of Texas are seeking $4.8 billion of bonds for cities, schools and special districts as legislators in Austin deliberate on funding priorities for local governments.

To finance a major expansion, the Texas Children’s Hospital will issue $354 million of debt, including fixed and variable rate bonds.

Senate Democrats slam Republican leadership over lack of ideas for long-term highway fix.

Indicator Last Report Forecast Actual Initial Jobless Claims 4/25: 262,000 5/2: 280,000 5/2: 265,000 Continuing Claims 4/18: 2.256M 4/25: 2.285M 4/25: 2.228M Consumer Credit Feb.: +$14.8B March: +$16.0B March: +$20.5B

Consumer credit increased by $20.5 billion in March to $3.363 trillion, the Federal Reserve reported Tuesday.

Struggling cities like Chicago need to embark on serious restructuring efforts before it’s too late and mounting retirement debt pushes them toward the fate of Detroit, said some architects of that city’s bankruptcy.

Standard & Poor's Ratings Services said it raised its rating on Littlestown Area School District, Pa.'s existing general obligation bonds that solely reflect the state enhancement program to A-plus from A.

The Municipal Forum of New York presented awards to three members of the public finance community at its 26th annual Awards and Urban Leadership Fellows Fundraising Dinner in New York on Wednesday night. Richard Raphael, Marian Zucker and Kent Hiteshew were all honored at the function.

Illinois Gov. Bruce Rauner’s proposed budget relies on unrealistic and potentially harmful cuts as well as savings that don’t appear achievable, according to a report from Chicago’s Civic Federation.

Puerto Rico Gov. Alejandro García Padilla is planning a 10.4% cut in spending for the coming year's budget.

Attorneys for All Aboard Florida told a federal judge that the private passenger train owners could close on $1.75 billion in tax exempt private activity bonds around June 8.

Turnover on the Poway, Calif. school board appears to have stalled movement toward refinancing and restructuring its controversial capital appreciation bond deal, which triggered state legislation limiting school district CABs.

Moody's Investors Service said it has downgraded to A1 from Aa3 the underlying general obligation rating on Algonac Community Schools, Mich.

Prices of top-rated municipal bonds were stronger at mid-session, traders said, with yields on some maturities down by as much as three basis points.

The Treasury Department said Thursday it will auction $24 billion 91-day bills and $24 billion 182-day discount bills Monday.

The Obama administration's proposal to create a new class of tax-exempt debt that is permitted within the context and requirements of public private partnership is a hopeful sign of a way forward in creating a new hybrid infrastructure financing model.

Liftoff could begin at any policy meeting, including June, Federal Reserve Bank of Chicago President Charles Evans said in a televised interview Thursday, although he repeated his preference that normalization of rates should begin next year.