Tender rates for the Treasury Department’s latest 91-day and 182-day discount bills were lower yesterday, as the three-months incurred a 2.370% high rate, down from 3.080% the week before, and the six-months incurred a 2.400% high rate, down from 2.950% . Coupon equivalents were 2.424% and 2.470%, respectively. The price for the 91s was 99.400917 and that for the 182s was 98.786667.
The county commission said it hopes to regain Moody's ratings this fall.
Market participants launched the largest lobbying effort in recent memory to protect municipal bonds and got what they wanted as the tax-exemption survived.
UST yields rose across the curve in response to the employment report with the two-year rising nearly 10 basis points while municipals largely ignored the moves and ratios fell as a result.
Oregon Department of Transportation leaders said they will begin layoffs Monday after lawmakers adjourned without passing a transportation funding bill.
"If you are seeking the services of a municipal advisor, it would be helpful to use the term municipal advisor in your RFP/Qs," said Sanchez, director of the SEC's Office of Municipal Securities.
The growth of the muni market comes as issuance surges, with the first half of the year seeing $280.64 billion of supply, up 14.3% year-over-year, according to LSEG.
