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Issuance has fluctuated throughout the years since the financial crisis, following interest rate changes — rising when rates rise and falling when rates fall — but the totals have come in well below $15 billion every year since 2012, save for 2017 when $15.234 billion was sold.

"Tight underwriting spreads in 2023 followed, for the most part, a well-entrenched trajectory that has backdropped the primary municipal market for years, and so the negligible bump in spreads does not come as a surprise," said Jeff Lipton, managing director of credit research at Oppenheimer.

Texas bond volume climbed 22.5% to lead the nation in a year when issuance in the eight-state Southwest region increased by only 0.6%.

According to FINRA, the banking giant failed to close out 239 inter-dealer transactions in a timely manner as well as failing to take possession of 247 short positions.

"With supply still low, and fund outflows just marginal, it is not clear what would substantially cheapen the market, and we could get stuck in the current range for some time time," Barclays strategists said.

Austin Transit Partnership, which was created by the city and its mass transit agency to develop and finance Project Connect, approved an initial bond sale of up to $150 million.

Western Alliance Bank has named Woo senior director of treasury management in the bank's corporate finance and public and nonprofit finance groups.

Expanded domestic purchasing requirements under the infrastructure law are well-intended but confusing and costly, state transportation and construction groups say.

Comments submitted to the SEC on the MSRB's amendments to Rule G-14 note how important exceptions for manual trades and limited trading activity are in the move to a one-minute reporting standard.

Meanwhile in New York, the state doubles down on climate investments and restricts investments in some big oil and gas companies as the city blasts several big banks as they pull out from the Climate Action 100+ initiative.