Primary bond market

Those waiting for the bonds that will finance the long-awaited American Dream development in New Jersey will have to wait a bit longer as the big sale was delayed.

Municipal bond traders will see the bonds that will finance the long-awaited New Jersey megamall American Dream hit the market on Wednesday in an unrated sale that has garnered a lot of attention.

Top-quality municipal bonds finished mixed on Tuesday, traders said, as the state of Wisconsin came to market with a sale of general obligation bonds and investors awaited the Federal Open Market Committee's decision on interest rates.

National Public Finance Guarantee got a vote of confidence from Kroll Bond Rating Agency a week after S&P Global Ratings put the MBIA Inc. municipal bond insurance unit on credit watch negative.

Top-quality municipal bonds were mixed at mid-session, traders said, as the state of Wisconsin came to market with a sale of general obligation bonds.

Academy Securities hired Kevin Steinhauer as director of municipal trading, part of a build-up of the veteran-owned firm's muni business.

Municipal bond traders are awaiting the start of this week's new issue sales.

S&P Global Ratings said it lowered its rating to A-minus from A on Suffolk County, N.Y.'s outstanding general obligation (GO) debt.

Mitsubishi UFJ Financial Group, Inc., announced the continued enhancement of its public finance business with the addition of Lisa Smith, formerly of Siebert, Cisneros, Shank & Co. LLC.

Top-rated municipal bonds ended weaker on Monday even as traders anticipated demand for the week’s new issue slate.

Top-rated municipal bonds were weaker at midday as traders eagerly await the new issue slate to start rolling in.

Puerto Rico will likely need to fund government operations using sales-tax revenue claimed by warring factions of bondholders unless a legal dispute at the heart of the island’s bankruptcy is resolved by November.

Municipal market participants are eagerly awaiting the new issue slate to start rolling, as issuance is expected to be around the weekly average.

The New York City Transitional Finance Authority plans to sell about $850 million of tax-exempt fixed rate bonds on Wednesday, June 21, after a two-day retail order period.

Demand for municipals in the primary market should stay strong as volume is set to remain close to the yearly per-week average.

The Duncan Public School district approved the low bid from BancFirst for $7,645,000.00 for the sale of the school bond at a special meeting on Tuesday afternoon.

The Garden City Commission on Tuesday approved a request for a one-year extension to Garden City's STAR bond project. If approved, the measure would mark the project's second extension.

Moody's Investors Service has downgraded Eastern Maine Healthcare Systems' bond credit rating to a level that could limit the organization's ability to obtain credit in the future.

Top shelf municipal bonds were weaker at mid-session,, according to traders, who were making preparations to tackle next week's calendar. Ipreo estimates next week's volume at $6.01 billion, consisting of $4.94 billion of negotiated deals and $1.08 billion of competitive sales.