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A mix of broader market dynamics and Chicago-specific pressures is driving the widening spreads, investors said.

Michigan lawmakers must pass a 2026 budget before Oct. 1, but the Republican-controlled state House and Democratic-controlled Senate are far apart.

Chicago Public Schools plans to return to market with $650 million of Series 2025A unlimited tax general obligation bonds.

Analysts credited governance improvements Connecticut put in place in 2018, which have reduced the state's liabilities and improved its reserves. 

The muni market is in a position to rally in the latter part of this year, said Daryl Clements, a portfolio manager at AllianceBernstein.

A judge sentenced Randy Miller to six years in prison and his son, Chad Miller, to five years. They had pleaded guilty to fraud stemming from a bond sale.

California lawmakers, who announced a deal with Gov. Gavin Newsom in June, say his administration failed to agree on loan terms ahead this week's deadline.

While victims' attorneys now signal support for the settlement, bond attorneys still oppose the plan.

Maryland's comptroller reports the state is projecting a $189 million drop in general fund revenue due to the unfolding effects of the One Big Beautiful Bill Act, which could result in the state decoupling from federal tax laws.

The mega-mall's investors will receive their second payment since the reserve fund ran dry in 2022.