Investments

The Pennsylvania Higher Educational Facilities Authority and the state of Wisconsin are coming to market on Tuesday as municipal bond traders eye tax reform developments in Washington.

Cities and counties will be able to form the new affordable housing districts starting in January.

The Central Florida Expressway Authority’s senior bonds won one-notch upgrades from Moody’s Investor Service and S&P Global Ratings.

The municipal bond market focused on the burgeoning new issue calendar as participants waited for a U.S. Senate vote on tax reform, which may come before the end of this week.

The remodeling of the 22-year-old airport will add gates and update its security infrastructure.

The special purpose districts that have powered development in the Cinco Ranch area west of Houston repeatedly failed to disclose to bond investors the risk of severe flooding from the adjacent Barker Reservoir, a Houston Chronicle investigation found.

Las Cruces Public Schools officials have OK'd a measure calling for a $50 million bond election in February 2018.

Surging enrollment in the Uniondale school district — one of Long Island’s largest and poorest — is fueling a nearly $200 million bond proposal that would add more classroom space to meet the demand.

Public school districts with bonds are feeling a new urgency to try to refinance their bonds before the potential passage of a new federal tax bill.

The engineer who led the restoration of electrical service in New York City after Superstorm Sandy has been appointed to oversee the recovery of Puerto Rico's power grid.

The Treasury Department auctioned $34 billion of five-year notes, with a 2% coupon, a 2.066% high yield, a price of 99.688000.

The holiday shopping season begins in earnest this week as municipal bond issuers offer buyers a slew of new tax-exempt deals as they rush to beat possible changes to the tax code for 2018.

The municipal bond market this week will keep an eye on the building new issue calendar as traders wait for the U.S. Senate to vote on a tax reform proposal which could come as early as Thursday.

The Treasury Department Monday auctioned $26 billion of two-year notes with a 1 3/4% coupon at a 1.765% yield, a price of 99.970650.

The Treasury Department said Monday it will sell $45 billion of four-week discount bills Tuesday.

Gov. Mary Fallin said the state should not wait until the February opening of the regular legislative session to repair its budget.

The rush to market is set to begin as the municipal bond market will see a hefty new issue slate for the upcoming week at a time of year when it is usually rather sleepy.

Thomas Hamilton, Scott Jackson and Jay Nolan will join the nascent board that will intervene in and assist with municipal distress cases.

The Terre Haute Board of Sanitary Commissioners approved the purchase of equipment for the city’s wastewater treatment plant.

A plan to build a $520-million criminal justice complex is moving forward after the Detroit City Council approved a deal allowing a land swap.