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Proposed rulemaking on the FDTA is expected in June, but clarity on what exactly it means for the muni market is years down the line.

Healthcare issuance is up 122.2% year-over-year through April, rising to $9.062 billion through the first four months of 2024 from $4.078 billion over the same time period in 2023, LSEG data shows.

Issuance has increased, but financial performance and ratings are likely to stay volatile.

Strong and growing sales tax revenues support the bonds. Repayment isn't tied to ridership, which has declined.

Polk County, Iowa is issuing $113 million of general obligation capital loan notes, Series 2024A, for the Des Moines Airport Authority's new terminal project.

Munis posted losses in April, returning negative 1.24%. The asset class is also seeing losses of 1.62% year-to-date.

Alaska's efforts to manage its cyclical revenues brought an upgrade from S&P Global Ratings and positive outlook from Moody's Ratings.

Sen. Joe Manchin, D-W.Va., has already pledged to try to overturn the rule in Congress.

April's volume stood at $40.456 billion in 653 issues, up 21.2% from $33.377 billion in 666 issues in 2023.

The deal, originally planned at $1.5 billion in three maturities, was downsized and restructured and then restructured again into one 10-year bullet maturity.