News and Information from Bond Buyer

A strike or work slowdown at U.S. West Coast ports could result in the loss of billions of dollars to the U.S. economy if goods are diverted to non-U.S. ports, a Fitch Ratings report said.

California lawmakers are considering a $7.2 billion water bond for the November ballot as the discussion goes into overtime.

The Illinois Sports Facilities Authority said its recent $291 million refunding generated more than 5.47% of net present savings for $16 million in savings to ease its debt service burden going forward.

Marijuana legalization has failed to live up to the hype in terms of its impact on state economies, according to the three major rating agencies.

Many municipal market professionals are concerned that the Municipal Securities Rulemaking Board's proposed best execution rule would not be functionally different from the fair pricing obligations that the MSRB and Financial Industry Regulatory Authority already impose on dealers.

The federal government ran a $94.6 billion budget deficit in July, the Treasury reported Tuesday.

Ziegler Wealth Management, an investment bank and brokerage that specializes in general and structured municipal finance, continued to expand its public finance team with the addition of Rolando Q. Leavell as a financial advisor with expertise in church securities.

Syncora Guarantee Inc. is targeting the federal mediators who crafted the main settlement at the heart of Detroit's bankruptcy exit plan, arguing that they showed illegal and politically motivated bias toward pensioners and saving the city's art.

The Treasury Department Tuesday auctioned $27 billion of three-year notes with a 7/8% coupon at a 0.924% yield, a price of 99.855348.

The Puerto Rico Treasury Department and struggling Doral Financial Corp. have entered into court-supervised negotiations over Doral's claim for $229 million.

Market participants sense a stronger tone in the municipal bond market on Tuesday despite limited activity.

Detroit said a planned $300 million exit financing that key to its recovery will feature a first lien on income taxes and mature in 11 to 15 years.

The Treasury Department Tuesday auctioned $50 billion of four-week bills at a 0.040% high yield, a price of 99.996889.

The Municipal Securities Rulemaking Board announced Tuesday that it will rebate $3.6 million to broker-dealers because it has collected more money in technology fees than the board needs to maintain its systems.

Louisiana Treasurer John Kennedy sent a letter Aug. 11 telling the state attorney that he is not pleased with a federal housing discrimination settlement.

San Antonio will close on a $233 million bond deal that includes new money and refunding after institutional investors quickly grabbed the top-rated bonds.

A federal appeals court dismissed a lawsuit over the massive $2.6 billion Ohio River Bridges Project being built by Kentucky and Indiana.

Small business were slightly more optimistic in July, as the National Federation of Independent Business' monthly Small Business Optimism index grew 0.7-point to 95.7, the group said Tuesday.

Tuesday's active primary will pave the way for a bump in secondary activity, traders predict.

Moody's Investors Service said it has downgraded the village of Bolingbrook, Ill.'s general obligation rating to A1 from Aa3.