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The Washington refunding deal is built on an extraordinary optional redemption of Build America Bonds despite criticism from investors who hold them.

LSEG Lipper reported fund inflows of $63.8 million for the week ending Wednesday following $300.5 million of inflows the prior week. High-yield saw its 11th consecutive week of inflows at $180.4 million, down from $278.6 million the week prior.

Alex Boutyrski, who joins as a senior vice president, will work in the group launched by John Baracy in February.

The Intermountain Power Agency has warned that the measure, which is aimed at preserving the state's largest coal-fired power plant, poses risks to its bond-financed transition to cleaner fuels.

House Speaker Mike Johnson has unveiled a spending package to keep the government funded for the remainder of FY 2024, setting up a tense window for the bill to be passed before the government shuts down on Saturday morning.

The new rules are expected to boost bond issuance.

The extraordinary redemptions being used to call Build America Bonds "are based on a creative but flawed legal argument driven by the current change in interest rates," said Kramer Levin partner Amy Caton.

Funding for a $2.55 billion expansion and renovation of George Bush Intercontinental Airport's Terminal B had been held up for months by the city's former and current controller.

Citi's exit comes amid the larger trend of broker-dealers downsizing balance sheets, which can hurt secondary market liquidity, particularly in times of stress. Other market players are coming into the fold.

The payout represents the maximum percentage a whistleblower can receive under the False Claims Act in Illinois.