Primary bond market

A New Jersey lawmaker is seeking to cancel the state’s $3.2 billion tobacco refunding bond deal, saying the transaction was unconstitutional.

The old saw that rising rates are bad for bonds may not really be the case, one new report says.

Illinois lawmakers returned to work this week with less than two months to settle on a budget.

Despite the previous technical difficulties of supply and demand, municipals are poised for a potentially stronger second quarter, according to Jeffrey Lipton, managing director of credit research at Oppenheimer & Co.

Traders and muni professionals said it was a typical light Monday in the municipal market — with favorable market technicals mixed with some underlying concern on the political front.

Morgan Stanley will run the books on several negotiated deals that are part of about $360 million in local government borrowing planned.

Retail buyers of municipal bonds got first shot at New York City’s big general obligation bond sale on Monday.

Clark County, Nev.’s $648 million Las Vegas stadium bond deal for the NFL’s Raiders is the first since Congress toyed with the idea last year of eliminating the tax-exemption for sports facilities.

Weekly municipal market volume is expected to sink back below $5 billion in the coming week, making it harder for investors to price bonds.

Clark County will price $647 million in general obligation bonds Wednesday for the NFL stadium.

Illinois spreads are rising as the state plots its first sale of 2018 for May.

Municipal market participants will return to their desks next week and see a $4.8 billion new issue calendar.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, dipped to 3.99% from 4.00% last week.

Traders noted some caution in the muni market ahead of Friday’s release of the March unemployment report.

Municipals were trading in sympathy with Treasuries on Thursday morning as the market remained quiet as it prepared for the week’s end.

BlackRock's Peter Hayes says that municipal bond performance in the first quarter was clearly hurt by tax reform.

Morgan Stanley rose to No. 2 and JPMorgan slipped out of the top 5 among municipal underwriters; PFM fell to second among financial advisors.

Buyers of municipal bonds had a variety of new issues to choose from on Wednesday as deals from New Jersey, New York, California and Maryland all came to market.

California's attorney general says the hospital chain used anti-competitive practices to drive up prices in Northern California.

Despite municipals being a little sidetracked as Treasuries weakened, traders said there was a more constructive nature overall to the market on Tuesday.