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"It's an unfortunate part of doing business," said an investor.

San Francisco's "tepid" recovery from the pandemic was cited by Fitch.

The public finance community remembers President Jimmy Carter's pivotal roles in the near bankruptcy of New York City, deregulation of the transportation industry, and his contributions to state and local governments.

The $33 billion funding gap in the authority's five-year capital plan is too big, the Senate majority leader and Assembly speaker said in a rejection letter.

President-elect Donald Trump's return to the White House promises sweeping tax changes that could impact the aspects of the tax-exempt bond market.

While Friday's muni session was muted, the damage of a volatile UST market, paired with low new-issue supply and year-end positioning, has weighed on the asset class in December.

A decline in debt service coverage drove S&P's four-notch downgrade for Salinas, California, sewer revenue debt, which it placed on CreditWatch negative.

The new Congress will have a full plate including deciding the fate of the Tax Cuts and Jobs Act and Internal Revenue Service funding in a legislature that's already showing cracks of disagreement.

Kotek has spent the past month working on a very busy agenda involving housing, fires, transportation and construction labor agreements.

High-yield funds saw outflows of $413.6 million compared to the previous week's outflows of $71 million.