Public finance

The quarterly update showed growth slowed from 3.4% amid declining commercial leasing activity, and sluggish private sector job growth.

Municipal market participants will get the first supply wave, including the second largest negotiated deal and the biggest competitive deal of the week.

Decking over a portion of the 180-acre rail site in Queens could trigger new investments in parks, schools and housing, according to a city study.

Municipal bonds were stronger on Monday as supply-starved investors awaited the week's planned $4.9 billion of new paper.

Bondholders will have to rely on the Oversight Board or the courts for debt service, analysts said.

The Fayette County School District's bonds will fund improvements to handle higher enrollment and boost a science and math program.

Most of the more than $6 billion of bond proposals on local ballots passed, but some large issues fell short.

The municipal bond market will see another moderate new issue calendar this week, with about $4.9 billion of offerings going up for sale

While low volume is frustrating for investors, scarcity is driving demand as buyers have realized they cannot wait for something that will not come. Although this week lacks a large deal, it is full of medium sized deals from a variety of issuers.

Its effect would hinge on party control of the General Assembly in 2022, given the open-endedness of the legislation.

Build America Mutual's Les Richmond said that state and local governments might want to consider their disclosure obligations in the light of the more robust risk assessments they'll soon begin getting from their actuaries.

Reinstatement of advance refundings could be packaged with infrastructure legislation because many state and local governments have used the savings to finance new infrastructure.

The Securities Industry and Financial Markets Association's newest model documents incorporate months of experience with the year-old issue price regulations, which most issuers think are working well.

Issuers and the MSRB are mostly on the same page about primary offering practices that may warrant scrutiny, but some members of the GFOA's debt committee are concerned about "regulatory creep."

Puerto Rico would have to have a vibrant economy and a stable government that is fiscally sound, said Rep. Rob Bishop.

Another low volume week is on top, but the scarcity value is driving demand as the market continues to be strong in the face of rising interest rates.

The Harvey, Illinois, fiscal crisis highlights bondholder risks posed by pension underfunding, Moody's says.

The $914 million deal will help finance a $7.4 billion project to renovate and expand the airport.

The municipal bond market will see another light new issue calendar next week with volume estimated at $4.86 billion.

New York MTA now puts the tab for the 13-year-late project at $11.2 billion, more than two-and-a-half times its original estimate.