Investments

Senate Democrats said they want progress on a highway bill before the current short-term fix expires July 31.

ILLINOIS

CONNECTICUT

William Paterson University in Wayne, N.J. had its credit rating cut one notch with a negative outlook by Moody's Investors Service, which cited the regional public college's weakened student demand.

Holders of $5.2 billion of Detroit water and sewer bonds are again playing a key role as the city attempts to execute its last big bargain struck during its bankruptcy.

St. Olaf College in Minnesota has its rating affirmed by Moody’s Investors Service as the school heads into the market with a $54.4 million new money and refinancing issue.

House Democrats seek Republican support for multiyear highway bill in exchange for passage of multinational trade pact.

Volatile muni yields coupled with the trepidation surrounding a Federal Open Market Committee meeting seem to have put a damper on new issuance as volume for the coming week is estimated at $6.72 billion, according to Ipreo and The Bond Buyer.

CALIFORNIA

ALABAMA

The College of DuPage board hired a consultant after putting its treasurer and controller on paid administrative leave after questions were raised over their investment decisions.

This week to see first House and Senate committee hearings in five years on sustainable options for the Highway Trust Fund.

A coalition of environmental groups wants the Federal Highway Administration to withdraw its support for the controversial Illiana Corridor toll road.

Holders of $5.2 billion of Detroit water and sewer bonds will have a say in whether a new regional authority will take over the long-troubled Detroit Water and Sewerage Department.

CALIFORNIA

ALABAMA

For the week ended June 11, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, increased five basis points to 4.47% from 4.42% from the previous week.

For the sixth week in a row, municipal bond funds reported outflows, bringing to nine out of 24 weeks this year the funds have suffered cash withdrawals.

Sponsors say a newly introduced measure to slash the federal gasoline tax would give the states flexibility in transportation funding.

A federal judge denied requests by two Florida counties seeking to block the issuance of $1.75 billion in private activity bonds for a private passenger train project.