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The Fed has been trying to rein in volatility in the market and keep the fed funds rate within its target range.

A Senate committee has approved a bill requiring remote sellers to collect the state's 6% sales tax. It could generate $700 million in new revenue.

llinois paper is looking more attractive when held up to Chicago city and Chicago Public Schools bonds, Citi analysts write.

Wisconsin will refund $622 million of taxable 2008 bonds in a sale that sheds swaps tied to Libor.

Most of the proceeds will refinance direct placement debt with bonds sold in the public markets.

Massachusetts also came to market with a $1.4 billion sale of revenue anticipation notes in three offerings.

Lack of legislative cooperation wouldn't be a problem until after court-approval of a plan of a adjustment, observers said.

The proposal is highly doubtful to become law in the coming months given the limited number of days Congress will be in session the remainder of the year.

Municipal market participants got some comfort about their fraud liability if they act in good faith on interim financial disclosures.

Fitch Ratings affirmed Denver International Airport after the collapse of a public-private partnership to remodel the main terminal.