Investments

Senate Republican leaders are working on a multiyear transportation bill that would resolve the shortfall in the Highway Trust Fund by dedicating roughly $40 billion of additional revenue to it from a variety of sources.

CALIFORNIA

ALABAMA

An estimated $9.16 billion in primary issuance is expected for the week of July 20, headlined by a $1.2 billion sales tax revenue offering from the New York State Dormitory Authority.

Virginia will eliminate tolls on two tunnels under construction with $78 million saved by cancelling a P3 road project.

Sen. Ron Wyden, D-Ore., hopes that one day, parents will give their kids infrastructure bonds for the holidays.

ARKANSAS

ALABAMA

For the 11th straight week, municipal bond funds reported cash outflows. The weekly reporting funds saw $29.255 million of outflows in the week ended July 15, after experiencing outflows of $305.707 million in the previous week, according to the latest Lipper data.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices increased three basis points to 4.48% for the week ended July 16 from 4.45% in the previous week.

The Municipal Securities Rulemaking Board is proposing to create a trade data product that would allow higher education researchers to see what dealers are doing while keeping the dealer identities anonymous.

Senators are optimistic about passage next week of a multiyear transportation funding reauthorization measure.

Ohio-based boutique investment firm Lancaster Pollard, which specializes in health care and housing, has a new leadership team.

Cuts in U.S. Army ranks could pose a long-term risk to military housing bonds, though the most recent round should not affect ratings in the short-term, according to Fitch Ratings.

Jefferson County, Ala.'s planned return to the municipal market two years after exiting bankruptcy may prove challenging, especially if the bonds arrive without external support, municipal analysts and investors said this week.

CONNECTICUT

ALABAMA

Pepperdine University received Double A ratings from two rating agencies ahead of plans to price a $77 million revenue bond refunding the week of July 20.

The Delaware River Port Authority's board approved an $18 monthly credit for E-ZPass monthly account users on four bridges connecting Greater Philadelphia and New Jersey.

The House on Wednesday voted 312 to 119 to approve a bill that would extend federal transportation funding through Dec. 18, with an $8.1 billion transfer from general funds to the Highway Trust Fund.