Public finance

Municipal bond traders are set to see a heftier new issue slate on tap for the week ahead. The calendar is composed of mostly negotiated deals with no competitive sales over $100 million slated for the week.

Ohio’s $7.8 billion budget is awaiting action by Gov. John Kasich after legislative passage last week.

CALIFORNIA

ARIZONA

Construction continues on new nuclear power plants in Georgia and South Carolina after the Westinghouse bankruptcy, but the Chapter 11 filing raises concerns for investors in the units, including public power utilities who issued billions in municipal debt.

In the week ended March 30, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell five basis points to 4.22% from 4.27% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Trump's $1 trillion infrastructure plan will be structured to attract private investors, Transportation Secretary Elaine Chao said.

Now that health care is taking a back seat to tax reform in the Trump administration, municipal portfolio managers are maintaining their investment strategies while bracing for changes on overall market demand and other technicals.

ARKANSAS

ALABAMA

Texas highway commissioners have added 230 projects costing $9 billion to the state’s 10-year road plan.

All Aboard Florida is assuring supporters of the private passenger train project that it will move forward despite the sales of its owner and an affiliate and pending legislation that the company says could jeopardize expansion plans.

A $217.7 billion budget that would require more local revenue for school funding won unanimous approval from the Texas Senate. The budget must now be reconciled with the House version.

Westinghouse Electric filed for Chapter 11 bankruptcy, raising more questions about the prospects of two under construction nuclear units in the southeast that were partly financed with municipal bonds.

ALASKA

ALABAMA

Maryland’s congressional delegation wants President Trump’s help in reviving a stalled FBI headquarters swap.

Moody's Investors Service is asking market participants to comment on a proposal to publish certain internal issuer ratings.

How might infrastructure initiatives from President Trump affect state and municipal issuers, and the capital markets? John Hallacy and Paul Burton discuss.

COLORADO