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As another economic indicator pushed investors closer toward the assumption that rate cuts are farther away, the relationship between munis, USTs and the vast amount of capital sitting on the sidelines becomes more challenging to navigate, particularly ahead of the tax-filing deadline and growing new-issue calendar.

Instead of her original proposal, Miami-Dade County Mayor Levine Cava said she will work toward crafting an even larger bonding plan that will also include money for transit projects.

The DOT has made $20.5 billion available to state and local governments, in addition to signing an agreement that expands capacity at the Port of Baltimore following the collapse of the Francis Scott Key Bridge.

Federal agencies will be required to simplify Notice of Funding Opportunities as part of a "complete overhaul" of federal financial assistance rules.

While the number is high, the par amount affected is less than the first quarter of 2023 figures.

This is the second wastewater deal since the city received an upgrade in April 2023.

The aim of the program was to create affordable moderate-income housing more quickly by acquiring existing apartment communities and converting the units to below-market-rate as existing tenants moved out.

The criteria should result in a nearly equal number of upgrades and downgrades in the next half year, according to the rating agency.

Some buying returned to the market Thursday from the buy-side and asset managers as dealers attempted to sell bonds, said Chris Brigati, senior vice president and director of strategic planning and fixed income research at SWBC.

The grants come from the IRA's flagship Greenhouse Gas Reduction Fund program, which separately provides $7 billion for states and cities that has yet to be announced.