Primary bond market

Municipal bonds were unchanged at mid-session, according to traders, who were looking ahead to next week’s new issue calendar. Ipreo estimates volume at $8.26 billion, up from a revised total of $5.94 billion this week, according to updated data from Thomson Reuters.

Assured Guaranty and Orrick, Herrington & Sutcliffe LLP increased their leads in the municipal bond insurance and bond counsel rankings in the first quarter, as political uncertainty and higher interest rates cut into the volume of transactions.

Municipal bond market participants are looking ahead to next week’s new issue slate, which is dominated by a big California healthcare issuer – bringing both corporate and tax-exempt debt.

S&P Global Ratings lowered its long-term rating and underlying rating (SPUR) three notches to 'B' from 'BB' on Northeastern Illinois University Board of Trustees' outstanding university facilities system (UFS) and certificates of participation (COPS) bonds, issued for Northeastern Illinois University (NEIU).

S&P Global Ratings lowered its long-term rating and underlying rating (SPUR) three notches to 'BB' from 'BBB' on Southern Illinois University Board of Trustees' housing and auxiliary facilities system (HAFS) revenue bonds and certificates of participation (COPs), issued for Southern Illinois University (SIU), and placed the ratings on CreditWatch with negative implications.

S&P Global Ratings has affirmed and placed on CreditWatch with negative implications its 'A' long-term rating on Illinois State University Board of Trustees' series 2016 auxiliary facilities system (AFS) revenue bonds.

S&P Global Ratings has affirmed and placed on CreditWatch with negative implications its 'A' long-term rating on Illinois State University Board of Trustees' series 2016 auxiliary facilities system (AFS) revenue bonds. In addition, we affirmed our 'A' long-term rating and underlying rating (SPUR) on existing bonds and certificates of participation (COPs), issued on behalf of Illinois State University (ISU).

California’s big bond offering came to market on Thursday and was well received by buyers, according to traders. In secondary activity, municipal bonds finished weaker.

California’s big taxable bond offering hit the market on Thursday as municipal bonds weakened in secondary trading.

Municipal bond traders are set to see the biggest deal of the week hit the screens on Thursday – the state of California’s $1 billion-plus taxable bond offering.

Top-quality municipal bonds finished mixed on Wednesday, traders said, as more supply slipped into the market.

Top-quality municipal bonds were mixed at midday, traders said, as more supply slipped into the market. Traders were also watching yields, which have been trending downward.

After a day filled with new deals, the municipal bond market will see another session of supply on Wednesday with big offerings from Pennsylvania and Arizona on tap.

As Central Kitsap School District begins work on two of the four major renovation projects in its 2016 $220 million bond, the district is on schedule and on budget for the work, officials say.

Top-rated municipal bonds finished stronger on Tuesday, as the Dormitory Authority of the State of New York’s $345.9 million of revenue bonds were priced for institutions after a shortened retail order period.

The Wisconsin-based conduit got a BBB rating from Kroll Bond Rating Agency for $165 million of Series 2017 taxable revenue bonds payable solely from New York's Albert Einstein College of Medicine promissory notes and guaranteed by Montefiore Medical Center.

Top-rated municipal bonds were stronger at mid-session, according to traders, as the first of the week’s large deals hit the market.

Municipal market participants are set for action to get started in the primary with several large negotiated and competitive deals on tap, led by issuers in New York, Florida and Virginia.

City councilors took the first step to wrap up projects included in the city's 2012 General Obligation Bond issue.

With Sherman residents soon to vote on a $308 million bond package aimed at overhauling the Sherman Independent School District's facilities, supporters and opponents of the plan are both making their positions known to the community.