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Municipal market participants are preparing and bracing for a market without advance refundings and perhaps private activity bonds as major tax changes draw closer. Municipal issuers are coming together and giving the market one last gasp of these types of bonds before they are no longer allowed to do so and in the process, have created what could potentially be a historic $17.4 billion of issuance.

New York City offered $850 million of general obligation bonds and the Metropolitan St. Louis Sewer District, Mo., offered a $317 million refunding deal to retail investors on Monday as the Pennsylvania Turnpike came to market with its bonds.

Investors plan to make the most of the volume blitz and higher yields in the last month of the year, as issuers rush to market ahead of a sweeping tax law overhaul.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills rose on Monday, as the three-months incurred a 1.290% high rate, up from 1. 285% the previous week, and the six-months incurred a 1.450% high rate, up from 1. 435% in the prior week.

The Treasury Department said Monday it will sell $35 billion of four-week discount bills on Tuesday.

The eight hopefuls still want to hold the state-run MTA more accountable.

Directors at the Federal Reserve Bank of Richmond have chosen Thomas Barkin, a senior executive at the global consulting firm McKinsey & Co., as the institution's next president, said a person familiar with the decision.

Factory orders fell 0.1% in October, a smaller decline than the expected 0.3% drop.

The New York economy is expanding with “across the board increases,” and employment at its best level in more than two years, the Institute for Supply Management-New York’s Report on Business index, released Monday, indicated.

As municipal market participants are awaiting the next step in the tax bill process, they are also preparing for one of the busiest and biggest weeks the market has ever seen.

The Senate’s vote to approve its tax bill means advance refundings are all but dead. The future of private-activity bonds hangs in the balance as the differences with the House’s version are resolved.

Senate Republicans narrowly approved the most sweeping rewrite of the U.S. tax code in three decades, slashing the corporate tax rate and providing temporary tax-rate cuts for most Americans.

As lawmakers worked over the details of tax tax legislation, municipal market participants prepared to embark on what may be a record-setting week for issuance.

Both the House and Senate bills would end Puerto Rico’s status as an offshore tax haven.

Navnoor Kang, the former director of fixed income for the New York State Common Retirement Fund, has pleaded guilty to criminal fraud charges.

The state increased the size of the deals by 70%, with its bond finance director citing plans by "the clowns in D.C." to outlaw advance refundings.

Economic development leaders on Wednesday cleared a major final hurdle for the development of Glacier Rail Park when the Flathead County commissioners unanimously approved a resolution for port authority revenue bonds needed to finance the relocation of CHS to the rail park.

The county says it's closer to an agreement to build a criminal justice center at new location.

The West Ada School District board of trustees has approved resolutions to ask voters to approve a $95 million bond — which includes about $60 million for a new high school — and a two-year supplemental levy of $14 million per year.

The California Infrastructure and Economic Development Bank approved $321 million in nonprofit conduit sales this week.