Investments

The House and Senate seem to be playing a political game of chicken with the Highway Trust Fund, sending differing bills to extend its solvency back and forth just two days before federal officials have threatened to begin cutting back on federal transportation reimbursements to states if there is an impasse

If the Puerto Rico Electric Power Authority were to fail to make loan payments to Citibank due on July 31, the consequences might spread beyond Puerto Rico bonds. Bad news on PREPA could also trigger a selloff of tobacco bonds, analysts speculated.

Maryland asks four consortiums for proposals to build and finance $2.4 billion Purple Line commuter rail project.

The federal judge overseeing Detroit's bankruptcy has delayed by one week the key trial in the case, while the city dropped its proposal to hire a post-bankruptcy monitor and FGIC dropped its subpoena of Gov. Rick Snyder

The Senate adopted legislation that would provide a five-month, $8 billion bailout of the Highway Trust Fund that extends the fund's solvency through mid-December.

ARKANSAS

CALIFORNIA

The 6th circuit appeals court will hear oral arguments Wednesday on Syncora's appeal of a key decision in the Detroit bankruptcy, one of the insurer's five pending appeals in the case.

Analysts are conflicted over how investors should protect their 2014 returns and mitigate their interest rate risk for the rest of the year.

Highway construction project awards slacken in 2014 as states gird for possible delays, cuts in federal transportation spending.

California State University is planning to sell $744 million of revenue bonds this week to refund outstanding debt and provide funding for various campus projects across the state.

Detroit emergency manager Kevyn Orr Tuesday issued an order that gives the city's mayor control of the Detroit Water and Sewerage Department.

MASSACHUSETTS

DISTRICT OF COLUMBIA

Trains are now carrying passengers on the first segment of Washington rail system extension funded with $3 billion of federal loans and toll revenue bonds.

A settlement with Detroit's limited-tax general obligation bondholders that calls for a 34% recovery also gives the creditors a say in the city's effort to repudiate $1.4 billion of pension certificates, one of the most controversial aspects of the bankruptcy case.

NEW MEXICO

ALABAMA

New-issue volume is expected to decline by around $2 billion this week, as a handful of deals from California, the District of Columbia and Illinois will vie for investors’ attention.

An independent accountant hired by the Long Beach Community College District in California has estimated that the district may have to pay about $1.73 million to settle with the Internal Revenue Service under the agency's voluntary closing agreement program, an issuer official said.