Sell side

Rhode Island’s fiscal 2018 budget is in no-man’s land amid a dispute between the Senate and House.

One week after National Public Finance Guarantee was downgraded two-notches by S&P Global Ratings, the bond insurer laid off 29 employees, slashing all of the new-business team.

With the first half of the year officially in the books, we take a look at long-term municipal bond issuance.

Baker, lawmakers must hash out FY18 plan

Issuance is forecast to screech almost to a halt during the July 4th holiday shortened week.

Muni analysts pointed to June's uptick in volume as a sign that issuance may start to rebound.

Barring a dramatic turn of events, Connecticut will miss its midnight budget deadline.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices rose one basis point to 4.05% from the previous week's 4.04%.

The U.S. Securities and Exchange Commission may take action against bankers from Barclays Plc and Morgan Stanley for their roles in Puerto Rico bond sales before a worsening fiscal crisis sent it hurtling toward bankruptcy.

R. Seelaus & Co. said Quentin Murray would join the firm as head of sales and trading after spending the past four years at Stifel Nicholas.

Connecticut's governor asked lawmakers to consider a “mini-budget” should the state miss Friday's deadline.

National Public Finance Guarantee's ability to write new business is in question after a downgrade to A, three notches below competitors Assured Guaranty and Build America Mutual, which were both affirmed at AA.

Although the volume for the primary market will fall toward a more normal level, demand isn't expected to waver.

In the week ended June 22, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index was unchanged from 4.04% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

UBS Wealth Management announced its newest addition to its growing public finance business, as Angela Schmidt will come aboard after 19 years at JP Morgan.

San Francisco's largest-ever COP sale funds an expansion of the city's convention center.

New York’s MTA plans to come to market next week with a competitive $700 million BAN sale.

Utah will competitively price $150 million of GO bonds with across the board triple-A ratings.

The primary market is set to heat up next week, as buyers will be chomping at the bit for what is expected to be the second highest volume total of the year.