Markets

The week was a long-awaited reckoning with record supply, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.

The National League of Cities rolled out its annual report showcasing the challenges facing mayors, including the end of BIL funding and a steady diet of uncertainty about the flow of future federal dollars.

Schools and governments turn to bonds to cover payouts in the wake of a California law that temporarily lifted the statute of limitations on sex abuse claims.

The top suite of firms oversaw deals amounting to more than $139 billion par value across 58% of the market.

Munis are "under pressure as elevated primary supply collides with lackluster seasonal reinvestment flows, leaving dealers heavy and buyers selective," said James Pruskowski, an investor and market strategist.

As the market continues to contend with the surge in issuance, investors still have a significant amount of cash that can be put to work, said Jeremy Holtz, a portfolio manager at Income Research + Management.

Once considered as a promising prospect for investors, "green" bonds have been plagued by defaults, a concern for those who study the underlying technologies.

The top 10 underwriters for the first half of the year brought in more than $203 billion across nearly 2,000 issues.

As always, economists had disparate interpretations of the consumer price index, with none expecting a July rate cut. And tariff questions remain unanswered.