Public finance

Continued lack of a budget will mean a spending freeze and further rating agency backlash.

The municipal bond market will see more deals hit the screens on Wednesday, led by a big Maryland competitive sale and a second day of retail orders for the New York City offering.

August revenues exceeded budget projections by $343.7 million.

Top-rated municipal bonds ended weaker on Tuesday, according to traders, as the first of this week’s new deals hit the screens, led by sales from New York City and Louisiana.

One lawyer called the bankruptcy judge’s ruling a "victory in the Oversight Board's effort to destroy all bondholder liens in Puerto Rico."

The system reported strong investor demand for $350 million of taxable debt earlier in the week.

The new money and refunding bonds are being sold Wednesday.

The rating agency cited warnings by Mayor Luke Bronin that Connecticut's capital could go bankrupt in 60 days.

A bill to strengthen consumer protections for Property Assessed Clean Energy financing programs is headed to the governor’s desk.

The Teachers Retirement System issued a warning after state budget changes lowered this year's contribution to the fund.

William Cox of Kroll discusses their latest report on Chicago’s pension funding, which goes beyond the static ratio analysis that is done for pensions across the industry. Kroll poses the question just how affordable is the pension liability. Hosted by John Hallacy.

Top-rated municipal bonds were weaker at midday, according to traders, as the first of this week’s new deals hit the screens on Tuesday.

Municipal bond traders are set to see the first of this week’s new deals hit the screens on Tuesday, led by deals from New York City and Tennessee issuers.

Top-quality municipal bonds ended weaker on Monday, according to traders, who were looking ahead to a $7.42 billion new issue slate dominated by deals from New York City and Maryland.

Puerto Rico government representatives told the Title III bankruptcy judge that sales and use tax revenues used for paying Puerto Rico Sales Tax Corp. (COFINA) bonds belong to the commonwealth.

Minnesota's high court ordered the negotiations to resolve a funding dispute that's entangled a small piece of debt.

Revenue bonds backed by toll roads are looking good, according to Fitch Ratings.

After a short week with slow and low volume, the primary municipal bond market with get a normal dose of issuance this week when there is cash to be put to work. Market participants' eyes will be on New York City, which is set to bring more than $1 billion.

Bankruptcy may be the only way for Hartford to solve its financial problems, said Connecticut's governor, Dannel Malloy.

Gov. Tom Wolf has threatened a spending freeze and rating agencies have threatened more downgrades.