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A state-by-state review of 2017 issuance in the Northeast.

Municipal bond volume remains on mountaintop

Connecticut Treasurer Denise Nappier told lawmakers that Gov. Dannel Malloy's plan to push out payments would violate a bond covenant.

Texas factory activity, as measured by the production index, “expanded at a faster pace in February.”

U.S. sales of new homes unexpectedly fell in January to the lowest level since August as borrowing costs rose and winter weather depressed demand.

The Chicago Fed National Activity Index for January decreased to 0.12 from a downwardly revised 0.14 in December.

Monetary policy targeting a federal funds rate between 1.25% and 1.5% is appropriate, Federal Reserve Bank of St. Louis President James Bullard said Monday.

A fear of the end of private activity bond tax-exemption led some sector issuance to surge in 2017.

Even though interest rates have not risen as fast as the bond insurance industry hoped for, and 2017 saw the contraction of an active insurer, the bond insurance wrap remains relatively stable in terms of market share.

Volume of $48.05 billion indicated a strong short-term need on both the buy-side and sell side of the municipal market.

Long-term issuance in the municipal market virtually matched its record high set in 2016, against the backdrop of tax reform that produced an end-of-year flood of volume, but the outlook for 2018 is less rosy.

Comptroller Scott Stringer said the budget cushion in Mayor Bill de Blasio’s preliminary fiscal 2019 budget is inadequate to ward off any problems as New York's economic expansion slows.

Market sources say the week's deals will be `well received,' while a new report cast doubt on prospects for a near-term supply pickup.

The director of the Honolulu transit project offered to forego $3.8 million.

The power of public employee unions to influence elections and their wage and benefit arrangements could be at stake.

Northeast municipal bond issuance was up 4% from 2016 to $121.3 billion.

Buyers will vie for about $4.8 billion of bonds next week.

With the Federal Reserve’s monetary policy report sticking to the policies professed in its latest post-meeting statement, markets will look to the question and answer sessions Federal Reserve Board Chair Jerome Powell will face from Congress next week.

The plan would expand flexibility and broaden the uses of tax-exempt private activity bonds.

Although large scale asset purchase programs may not be as effective as previously believed, Federal Reserve Bank of Boston President Eric Rosengren said Friday, “it is quite likely” that the programs will be needed in the future.