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Several weeks of elevated supply should theoretically be "weighing more on performance, but the market is now just ahead of its largest reinvestment season, which so far in 2024 has become even more pronounced, with an additional $19.5 billion scheduled for call/redemption between [June 1 and August 30]," said Matt Fabian, a partner at Municipal Market Analytics.

State senators didn't like the responses they received to queries on whether underserved communities are being prioritized in the state's rollout of public broadband following last year's missteps.

A professional basketball arena costing at least $900 million moved forward in Oklahoma City with the city council's approval of a development agreement.

CPS Energy, which provides electricity and natural gas in the San Antonio area, has a $1.05 billion revenue bond issue pricing in early June.

Fitch said Illinois has to resolve questions on Tier 2 pension benefits, and fixing Tier 2's failure to meet IRS safe harbor provisions would be credit neutral.

A strong project pipeline has P3 advocates hopeful for the future, despite some lackluster recent numbers.

Its state university systems face a funding freeze for noncompliance with a 2023 state law banning diversity, equity, and inclusion offices.

Fitch raised its rating on about $260 million of municipal bonds, backed by payments-in-lieu-of-taxes, from C — the lowest category before default — to CC.

The debt was approved for Greensboro and Raleigh.

"While we acknowledge that the market tone is weaker [Monday], we are generally constructive regarding valuations and expect this week's supply to be absorbed fairly well after last week's giveback of the richening witnessed over prior weeks," said Vikram Rai, head of municipal markets strategy at Wells Fargo.