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The MSRB Board also elected PRAG's Wendell Gaertner as vice-chair and approved a budget and rate card.

The fund's sell-off in June shows the challenges of accurate pricing in the high-yield muni market.

The Trump administration has denied Maryland's request for Federal Emergency Management Agency funding to aid communities on the western side of the state who were flooded out in May.

Larger dealer networks lead to lower markups, but smaller networks show evidence of potential collusion and market manipulation, the paper said.

Year-to-date volume stands at $310.166 billion, up 17.4% from $264.151 billion at the same time last year, prompting several firms to revisit their supply projections for the year.

The toll revenue bonds, subject to federal alternative minimum tax, will be issued through the Wisconsin-based Public Finance Authority.

U.S. District Judge Laura Taylor Swain gave no indication at the hearing as to how she was leaning and said some issues might not be able to be resolved as a matter of law.

Longer-term munis have become more attractive, said Cooper Howard, a fixed income strategist at Charles Schwab.

The effects of the One Big Beautiful Bill have yet to make a dent in state and local budgets as market experts and academics look into the future with concern.

It's among the more unconventional ideas being considered by public agencies facing large deferred maintenance backlogs.