Public finance

The municipal bond market returned from a three-day holiday weekend only to see action pick up where it left off last week — with yields heading higher.

As municipal bond buyers see scant supply head their way this week, savvy investors will be keeping a watchful eye on rising yields.

After seeing yields rise in recent days to close out the week, the muni market will see under $5 billion in the upcoming holiday-shortened week.

The agreement ends an attempt by unsecured creditors to scuttle a restructuring of $4.1 billion bond debt.

Common Good estimates the delays are adding $1.7 billion annually in lost opportunity costs and additional construction costs to the larger Gateway Development project, which includes a new Portal North Bridge in New Jersey.

The New York City Comptroller is encouraging greater diversity among investment managers hired by the city’s pension funds.

The Clark Public Utilities District says improvements are needed for future customer growth.

The District of Columbia Housing Finance Agency priced $74.5 million of tax-exempt bonds.

Municipal bond supply drops off sharply next week with $4.4 billion of volume estimated to hit the screens.

The Oversight Board questioned the legality of an announced rate cut by the power authority, while insurers sought permission to name a receiver.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was unchanged from 4.15%.

Officials say St. Louis must spend $175 million to stay competitive in a convention center arms race.

Issuance was light as the municipal bond market got hammered by jumping Treasury yields.

John F. Kennedy International Airport gets its day in the redevelopment sun with the announcement of a $13 billion plan.

After three quarters, only Morgan Stanley and Jefferies have increased par amount underwritten from last year.

State Auditor Elaine Howle said the state's housing department's oversight of bond expenditures is inconsistent.

While Natalie Cohen has retired from Wells Fargo Securities, she will remain a force in the municipal bond marketplace.

Munis weakened significantly for the second day in a row after the 10-year Treasury hit 3.1268% Wednesday, its highest point since 2011.

The undertaking, for which the city has already allocated $760 million, seeks to establish flood protection 2.4 miles from Montgomery Street north to East 25th Street.

Puerto Rico entities paid millions for rejected proposals, lost $1.1 billion on risky interest rate bets.