Refunding bonds

Reps. Steve Stivers, R-Ohio and Dutch Ruppersberger, D-Md., are also drumming up support for the muni market's role in infrastructure finance.

The region's 2018 new money bond sales were up 2% year-over-year, but refundings fell 57%.

Refunding volume in the Midwest was down 57% in 2018, while new money deals rose just 1.8%, leaving the region down more than 28%.

Note issuance declined in 2018 as a result of tax reform, rate fears, and ongoing fiscal austerity sparked by state and local revenue growth.

Richard Neal, D-Mass., raised optimism among state treasurers that advance refunding of municipal bonds may be part of "a combination of funding sources."

A top House Democrat warned the Trump administration not to engage in debt limit brinksmanship that could halt trading in state and local government securities.

A continuing disclosure agreement debuted in documents for the state's advance refunding of Build America Bonds.

The $551 million issue wraps up a nearly $3 billion program; $7.7 billion of proposed pension obligation bonds rely on similar structure

The survey of securities firms showed pressures caused by unfunded pension obligations is expected to be the biggest issue for the muni market next year.

Detroit issued bonds Friday to fund the successful tender offer.