News and Information from Bond Buyer

Municipal bond yields fell for the ninth straight day on Wednesday, according to Municipal Market Advisors data.

Detroit's two pension funds have reached a settlement with the bankrupt city that features dramatically lower cuts than originally proposed.

Financial Guaranty Insurance Company received a $584 million cash payment from Bank of America as they settled a lawsuit over nine mortgage-backed securities insured by FGIC.

New York's MTA awarded two contracts valued at $628 million to East Side Access contractors who will wall more than 10,000 linear feet of newly excavated tunnels and install communications systems.

If Puerto Rico cannot find a way to address the deficit in the commonwealth’s teachers' pension, it would be a credit negative, said Fitch and Standard & Poor's.

An audit of Cudahy, Calif. by State Controller John Chiang found misuse of taxpayer dollars, contract violations, mismanaged state grant funds, and more questionable financial practices.

The Joint Committee on Taxation this week released its estimates of the budget effects of the revenue proposals in President Obama's fiscal 2015 budget, including those related to municipal bonds.

California is planning to sell $750 million of general obligation bonds next week to fund transportation projects and refund outstanding commercial paper debt.

Connecticut Gov. Dannel Malloy called for several state investments in major highway, bridge and rail projects as part of a five-year capital infrastructure program.

Detroit emergency manager Kevyn Orr defended the city's bankruptcy and talked about the deal with unlimited-tax general obligation bondholders and the importance of future capital markets access in a wide-ranging exclusive interview with The Bond Buyer.

Traders said the competitive North Carolina general obligation bonds that came to market Wednesday were priced aggressively.

Transportation Secretary Anthony Foxx is barnstorming across eight states to warn that road projects may be halted if Congress does not replenish the Highway Trust Fund.

A North Carolina Interstate toll project aimed at congestion relief faces growing resistance from opponents that want the federal highways to remain freeways.

Cantor Fitzgerald & Co. has hired Hardy Manges, former executive director of municipal sales and trading at Mitsubishi UFJ Securities, to help further expand its municipal sales and trading business.

Municipal yields rose Wednesday morning as mixed economic data were released.

Arizona's $9.2 billion budget wins approval from Gov. Jan Brewer but disappoints counties seeking to offset revenue losses from tax break.

A bill providing $40 million to complete the American Indian Cultural Center & Museum in Oklahoma City is nearing its final hurdle in the Oklahoma Legislature.

WASHINGTON — Industrial production rose 0.7% in March, the Federal Reserve reported Wednesday.

Indicator Last Report Forecast Actual CPI Feb.: +0.1% March: +0.1% March: +0.2% CPI Core Feb.: +0.1% March: +0.1% March: +0.2% Empire State Manufacturing March: 5.61 April: 8.00 April: 1.29 NAHB Housing Index March: 47 April: 50 April: 47