Public finance

Municipal bonds turned weaker at midday as the market looks ahead to next week’s healthy new issue calendar.

The state's lawmakers ended their squabble over the car-tax phaseout

The move, approved unanimously by the Board on Friday, sets up a conflict with the island's leaders.

"This is deeply troubling," treasurer Joe Torsella said of the commonwealth's revenue situation

The rating agency cited a liquidity boost from its sewer-system sale.

Little activity is expected in the municipal bond market ahead of next week’s new issue slate.

In the week ended Aug. 3, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index was unchanged at 4.02% from the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Top quality municipal bonds ended stronger on Thursday, traders said, as the last of the week’s big deals hit the screens.

The Terre Haute Board of Sanitary Commissioners on Tuesday began an $85 million bond issue for the second phase of a long-term combined sewer overflow plan.

With no asset to show for more than $4 billion of debt, Santee Cooper’s bonds were downgraded by S&P.

Kansas City council considering bonds, private financing for $1 billion airport terminal project.

Assured Guaranty Ltd., the largest municipal bond insurer, reported gains in second-quarter profit, boosted by share repurchases and lower reserve additions for Puerto Rico losses.

The Springfield Water and Sewer Commission, aided by a recent bond rating upgrade from Standard and Poor's Rating Service, has been able to refinance debt and issue new revenue bonds for millions of dollars in long-term savings.

Councilman J.Ross Lacy will present a smaller road bond plan to the Midland City Council Tuesday.

The St. Joseph City Council approved $67 million bond issuance from the state of Missouri's Direct Loan program to fund the Blacksnake Creek project.

A federal judge appointed an attorney to facilitate an agreement between Flint and the Michigan Department of Environmental Quality.

Top quality municipal bonds were stronger at mid-session, traders said, as the last of the week’s big deals hit the screens.

The University of Puerto Rico will seek to reduce its debt-service costs through a consensual agreement with its creditors as the commonwealth plans to cut the school’s appropriations by $3.5 billion through 2026.

Washington State is without a multi-billion dollar capital budget to allow debt issuance for public needs, in what the state treasurer says is a further reflection of how “new politics” is undermining the municipal market.

Municipal bond traders are set to see the last of the week’s big deals hit the screens as several large competitive deals remain on tap.