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The state will try to convince the rating agency to lift its debt to AA, to match the rating others have assigned.

Munis "responded in part to a better UST session [Wednesday] but weren't in a position from a supply standpoint to attempt to match the 10-15 basis point rally in taxables," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.

Treasury Secretary nominee Scott Bessent sparred with the Senate Finance Committee over the future direction of fiscal policy in the Trump administration that will be trying to tackle major tax legislation.

It could be the year's largest unrated municipal bond deal.

The insurance market going into the Jan. 7 catastrophe already had been hit with non-renewals and cancellations -- and an overburdened state-supported insurance plan. A Morningstar analyst said the state insurance commissioner's reform strategy could have turned it around but now faces new obstacles.

OMB director nominee Russell Vought said he supports allowing the president to redirect funding away from state and local governments, bypassing the congressional appropriations process.

Because of the disaster, income tax filing deadlines for Los Angeles County residents will be delayed to October, muddying the revenue picture for the state.

The former congressman from Wisconsin saw bipartisan support Wednesday during a friendly Senate confirmation hearing.

The bonds — $824.8 million tax-exempt and $400 million taxable — follow Orlando Health's major acquisitions of hospitals in Alabama and Florida.

The Fed may make more cuts and there's a floor forming under the Treasury market, per panelists at the Executives' Club of Chicago's Annual Economic Outlook.