Public finance

Battered by rising interest rates and credit concerns in 2013, the muni market may face additional obstacles next year as regulatory limits on broker dealers could crimp liquidity.

INDIANA

ALABAMA

CHICAGO – A federal bankruptcy court judge abruptly suspended hearings on Detroit's proposed $350 million debtor-in-possession financing and settlement with its interest-rate swap counterparties Wednesday and urged the city to use the time to renegotiate the swaps termination deal.

The federal bankruptcy court judge overseeing Detroit's historic Chapter 9 filing pressed the city Wednesday for more information on its strategy behind the decision to negotiate a settlement with interest-rate swap counterparties.

FLORIDA

ILLINOIS

Detroit had to pursue a settlement with the interest-rate swap counterparties on its pension certificates or risk the "cataclysmic" loss of access to casino revenues, the city's investment banker told the bankruptcy court Tuesday.

U.S. Sen. Jay Rockefeller wants to know why the Port Authority of New York and New Jersey closed lanes on the George Washington Bridge in September.

ILLINOIS

FLORIDA

CHICAGO - The judge overseeing Detroit's bankruptcy ruled creditors can appeal directly to the U.S. Court of Appeals for the Sixth Circuit rulings that the city is eligible for Chapter 9 and pensions are not protected in bankruptcy.

Moody's Investors Service is maintaining a stable outlook for public power utilities in 2014, citing modest growth in demand and low volatility in natural gas prices.

The federal Maritime Administration is teaming up with financial experts to help ports develop infrastructure projects that attract private and public capital investments.

A $650 million project featuring a new hockey arena and entertainment district in downtown Detroit stepped closer to reality Friday, and officials announced that it includes the demolition of the storied Joe Louis Arena.

INDIANA

ARIZONA

Volume is expected to trail off to less than $3 billion this week in what will be the last five full trading sessions of 2013 in which a pair of Northeast deals will lead an otherwise skimpy slate of new issuance in the primary market ahead of a holiday hiatus next week.

It will be a busy week in Detroit, with the federal judge considering to key financings that have sparked major opposition from the muni market, as well as whether creditors can appeal the recent eligibility ruling.

Muni bond mutual funds struggled through their 29th straight week of outflows, at $1.90 billion for the week ended Dec. 11.