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In Texas, the Austin City Council set a climate bond election for no later than November 2026, while an Arizona water authority is dealing with a funding drought.

The initial reaction was a little bit a flight-to-quality trade in rates, which is supportive of USTs and munis as safe-haven assets do well during times of uncertainty, said Chris Brigati, senior vice president and director of strategic planning and fixed income research at SWBC.

A rapidly escalating fire season hit the West amid questions about federal funding and insurance.

"Lobbyists have to be prepared for any eventuality," said Chuck Samuels, attorney at Mintz Levin and counsel to the National Association of Health & Educational Facilities Finance Authorities.

Encompassing roughly 270,000 acres, or about 420 square miles, the mixed-use property owned by the publicly traded Tejon Ranch Co. has long been at the center of a debate over wildfires and urban sprawl.

The high-yield sector continues to show strength, with inflows of $364.4 million for the week ending Wednesday, marking 13 straight weeks of inflows, according to LSEG Lipper.

The Jeffrey Matthews Financial Group has been fined by FINRA for failing to achieve compliance with Regulation Best Interest.

Chicago Transit Authority CFO and Treasurer Jeremy Fine is leaving the agency, CTA President Dorval Carter, Jr., announced.

Both ratings agencies cited the health system's improved liquidity in recent years.

One-time spending, rainy-day funds and fare hikes are forming a rickety bridge for crossing the transit funding ravine.