Public finance

Municipal bond traders were returning to their desks on Tuesday with their eyes fixed on falling yields as they await a rather quiet primary market.

If Chattanooga Lookouts team owners decide to seek public tax support for a new baseball stadium in the city's South Broad Street district, they could find their path narrowed considerably under proposed legislation introduced in the Tennessee General Assembly by two local lawmakers.

As Pullman toasts to a new year, city officials still have one major item to cross off their to-do list: securing passage of a pair of major bonds totaling more than $12 million.

The workers would join 3,500 already on the island, where 45% of the power authority's customers are still without service after September's hurricanes.

California's population is nearly 40 million, according to the state's Department of Finance.

The state is still unprepared for a recession, according to the Citizens Research Council.

The municipal bond market will see a shortage of new supply kicking off the new year, after experiencing a record-breaking month in which almost $63 billion of bonds sold.

Issuers rushing to close PABs and refunding deals propelled issuance past the single-month record set before 1986 tax reform.

A second lawsuit was filed seeking to stop Gov. Chris Christie’s borrowing plans for new state office buildings.

Donald Guardian, who navigated challenging financial waters in New Jersey’s gambling hub for the past four years, has found a new role with another Garden State municipality 50 miles north.

The municipal bond market will see a shortage of new supply going into the new year, after experiencing a record-breaking month in which more than $61 billion of bonds sold.

While the new tax law may portend a difficult year for the municipal market, higher short-term rates and low supply should propel demand in 2018.

The state faces a $60 million hole in the current fiscal year and more than $200 million for fiscal 2019.

In the week ended Dec. 28, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell to 3.91% from 3.93% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

With the primary market at a standstill Thursday, attention turned to the first major deal of the New Year, a planned sale by the New Jersey Economic Development Authority that’s being challenged in court.

Bond investors’ concerns about the territory's ability to make payments have grown since Hurricane Maria.

The Greater Cleveland Regional Transit Authority faces a $20 million budget gap because of changes in state tax distribution.

An expiring cap on New Jersey police and firefighter raises pressure on local government finances, according to Fitch Ratings.

The Connecticut governor cited recent changes to the state employee pension system as a parallel.

While there are no major bond issues on the slate for Thursday, one deal that is garnering some attention is next week's $381 million offering from the New Jersey Economic Development Authority