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"A lot of retail investors are still very distracted by the stock market," said Pat Luby, head of municipal strategy at CreditSights.

California Lt. Gov. Eleni Kounalakis, a Democrat, was the lead vote-getter in preliminary results with 1,616,720 votes or 34.3%.

Gov. Abigail Spanberger received a dose of good news for a constrained budget as a new revenue forecast shows a boost in tax collections.

With nearly $4.5 billion of tax-exempt bonds, a restructuring or bankruptcy would be among the muni market's largest to date.

Investors most recently added $2.33 billion to mutual funds for the week ending May 27, bringing positive flows to date to almost $40 billion, according to LSEG Lipper.

The Fed is expected to hold steady for the rest of the year as it navigates a renewed inflationary environment, according to the UCLA Anderson Forecast.

S&P lifted Graham's general obligation bond and certificates of obligation rating to A from BBB due to the city's earlier-than-projected financial turnaround.

Illinois lawmakers passed a $56 billion fiscal year 2027 budget as the legislative session wrapped up in the early hours of Monday morning.

The status of the war in Iran is confusing, Hennion & Walsh's James Pruskowski said, but high absolute rates are giving the muni market a strong start to June.

Issuers using cash basis accounting pay a yield premium to sell bonds, according to a new paper, and their bonds are less likely to trade in the secondary.