Investments

Distressed local governments struggling under the weight of pension, healthcare, and other debts could turn to a special authority for fiscal guidance under legislation before Illinois lawmakers.

Top-rated municipal bonds were stronger at mid-session, according to traders, who were seeing the first of the week's new issuance hit the market.

The Treasury Department Tuesday auctioned $55 billion of four-week bills at a 0.760% high yield, a price of 99.940889.

Top-shelf municipal bonds were slightly stronger on Tuesday morning, as yields were lower by as many as two basis points according to traders, as they await the first new issuance of the week.

San Diego Mayor Kevin Faulconer's proposed hotel bed tax would fund convention center expansion, homeless services and street repairs.

Market participants are increasingly contemplating the impact of Illinois potentially losing its investment-grade ratings.

The New York City Transitional Finance Authority is planning to $1.1 billion of future tax secured subordinate bonds next week, the TFA announced on Monday.

Rep. David Young, R-Iowa, has introduced a bipartisan bill that would ease tax-exempt private activity bond restrictions for first-time farmers.

A number of municipal market groups and firms asked the MSRB in comment letters to create an exemption to its CUSIP rule that would allow placement agents to generally avoid having to obtain CUSIP numbers when they are engaging in private placements, including direct purchases.

Top-rated municipal bonds finished stronger on Monday, according to traders, with a heftier new issue slate on tap for the week. The calendar is composed of mostly negotiated deals, with no competitive sales over $100 million.

Pricing wires for negotiated bond offerings

Pricing wires for competitive bond offerings

A federal judge approved the Rhode Island Commerce Corp.’s settlement with the SEC over the state’s failed $75 million deal with videogame company 38 Studios.

San Antonio’s CPS Energy will issue $307 million for improvements to its grid, including installation of smart meters, development of microgrids and diversification of fuel sources.

Congressional budget dispute has frozen more than $1 billion of 2017 federal highway and transit funding to states.

The board of New York’s MTA approved contracts aimed at speeding the rebuilding of the L subway line’s Canarsie tunnel by three months, to 15 months.

Top-rated municipal bonds were stronger at mid-session, according to traders, who were set to see a heftier new issue slate on tap.

New York lawmakers failed to reach agreement on a fiscal 2018 budget forcing Gov. Andrew Cuomo to propose an emergency plan to keep state government running.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.790% high rate, up from 0.780% the prior week, and the six-months incurred a 0.910% high rate, up from 0.905% the week before.

Municipal bond traders are set to see a heftier new issue slate on tap for the week ahead. The calendar is composed of mostly negotiated deals with no competitive sales over $100 million slated for the week.