Public finance

The elimination of private activity bonds would remove a financing tool that supports many public private partnerships.

Estimated total bond volume for the week is $9.897 billion, which consists of $6.644 billion of negotiated deals and $3.253 billion of competitive sales.

New York's MTA is pouring its capital into projects that don't reflect population growth, says a Manhattan Institute report.

Tax reform legislation will be front and center this week, snatching the market’s attention as Congress moves ahead with measures that will change the bond marketplace in the near- and long-term. Both the House and Senate are taking up muni proposals that will directly impact issuers, underwriters and bond buyers.

Municipal bond traders will see a chunky new issue calendar this week as the market’s focus will be on Washington, where Congress will continue to work on tax reform legislation.

The Title III Puerto Rico bankruptcy judge will hear arguments Monday on the Puerto Rico Oversight Board’s motion to replace the Puerto Rico Electric Power Authority’s leader.

The municipal market will get another healthy dose of issuance in the final full week before Thanksgiving. The calendar is chock full of deals from Illinois, as all issuers look to price bonds before the tax laws change.

The par value of bonds guaranteed by BAM rose 3.4% from the third quarter last year, even as overall market new-issue volume fell 16%.

The GO bonds for climate change and housing will boost the economy, Moody’s says.

Chicago's Board of Education is pricing more than $900 million, citing positive rating actions and a better balance sheet.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, was lower to 3.92% from 4.00% last week.

Municipal bonds were markedly weaker at midday as market participants remain fixated on the newly released Senate tax reform proposal and how it compares with the House version.

The Pasco School District bond is now passing.

Mayor Jim Kenney's vision could provide more fiscal certainty for the school district at the expense of city finances, according to Fitch Ratings.

With an ordinance for $70 million in Terre Haute Sanitary District construction bonds facing certain defeat, Mayor Duke Bennett’s administration requested and the City Council Thursday agreed to withdraw the measure.

Municipal bond market participants are scanning the news closely for details of tax reform provisions that affect them.

Though Federal assistance may have helped lessen the impact of Hurricane Maria, analysts said there are still "plenty of reasons to worry" about the government's ability to function.

The Illinois Finance Authority authorized a passel of deals that would be outlawed by a GOP tax bill.

The last of the week’s big municipal bond deals came to market on Thursday – both from California issuers – as municipals finished weaker in secondary trading.

Rising debt, legacy costs and challenges from Washington all pose challenges for the New York mayor after winning re-election.