Capital markets

Illinois is staring at a historic fall into junk territory if lawmakers can't compromise.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices rose one basis point to 4.05% from the previous week's 4.04%.

The U.S. Securities and Exchange Commission may take action against bankers from Barclays Plc and Morgan Stanley for their roles in Puerto Rico bond sales before a worsening fiscal crisis sent it hurtling toward bankruptcy.

Chances of an on-time Connecticut spending plan faded.

Illinois House Democrats laid out a $36.5 billion fiscal 2018 spending plan.

R. Seelaus & Co. said Quentin Murray would join the firm as head of sales and trading after spending the past four years at Stifel Nicholas.

Connecticut's governor asked lawmakers to consider a “mini-budget” should the state miss Friday's deadline.

National Public Finance Guarantee's ability to write new business is in question after a downgrade to A, three notches below competitors Assured Guaranty and Build America Mutual, which were both affirmed at AA.

S&P Global Ratings said it lowered its financial strength rating on National Public Finance Guarantee Corp. (National) to A from AA-minus and its long-term counterparty credit rating on MBIA Inc. to BBB from A-minus.

The union rank and file must OK the agreement as a budget deadline nears.

Florida’s utilities expect to take on more debt to develop alternative water sources, Fitch Ratings says.

Although the volume for the primary market will fall toward a more normal level, demand isn't expected to waver.

Rutgers University's outlook was revised to stable from negative by Moody’s Investors Service.

In the week ended June 22, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index was unchanged from 4.04% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Gov. Charlie Baker wants Massachusetts to provide up to $500 million over five years for life sciences.

Connecticut Gov. Dannel Malloy is developing a plan to operate state government should a budget not materialize.

Most Alaska bonds will still be paid in the event of a government shutdown, its debt manager said.

UBS Wealth Management announced its newest addition to its growing public finance business, as Angela Schmidt will come aboard after 19 years at JP Morgan.

San Francisco's largest-ever COP sale funds an expansion of the city's convention center.

S&P Global Ratings has placed its AA-plus general obligation (GO) rating, AA appropriation rating, and A-plus moral obligation rating on the state of Alaska's debt on CreditWatch with negative implications.