Buy side

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, decreased four basis points to 3.76% from 3.80% in the previous week.

Issuers say they have recently been delivering deals with 4%-or-less coupons to meet growing demand for cost-efficiency in the low yield climate.

Eight years after the housing market collapse, the senior housing sector is growing with the help of near record-low interest rates that have prompted a rush to market.

Lawsuits by two Florida counties challenging the $1.75 billion private activity bond award for the All Aboard Florida passenger train project can proceed, after a federal judge ruled in the counties' favor.

Bondholders' poor recovery relative to pensioners in Detroit was typical of municipal bankruptcies, as protecting the workforce has outweighed debt repayment in courtrooms across the nation.

Chicago's junk-rated school district scheduled a public hearing next week on a request for $945 million of borrowing authorization.

An $800 million bond sale to finance New Jersey's American Dream retail development could provide fuel for critics of the municipal bond tax exemption, according to Municipal Market Analytics.

Moody's upgrades Pennsylvania's school district pre-default enhancement program to A2 from Baa1, citing a new state law.

Political gridlock has stymied attempts to overhaul pensions across the nation, most notably in the two lowest-rated states, New Jersey and Illinois.

Lately coupons of 4% – and in some cases even lower – are becoming more palatable to retail buyers because they decrease individual investors' dollar price when they purchase a new issue, strategists said.