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Record-breaking hot temperatures in the Southwest this summer likely had economic consequences and could focus the municipal bond market on heat-related credit risks and infrastructure needs.

The new-issue muni calendar is estimated at $8.522 billion next week with $6.075 billion of negotiated deals on tap and $2.446 billion on the competitive calendar, according to Ipreo and The Bond Buyer.

The Gulf of Maine offers "significant opportunities" for offshore wind energy development, federal authorities announced. That's good news for state officials hoping to tap the technology's potential to meet green energy goals.

"That is not how you drive policy and it's certainly not how you drive policy when the impact of policy happens with a lag," Mohamed El-Erian said. "This is the first Fed I know that has not gotten it."

"Nothing is off the table in terms of looking at who we can potentially charge," said Brian Fagel, assistant director of the SEC's Public Finance Abuse Unit.  

"Regardless of the decision made at our next meeting, if the economy evolves as anticipated, in my view, we are likely near or at a holding point on the funds rate," Federal Reserve Bank of Cleveland President Loretta Mester said.

"Transmission is often a pressing need. Routing power around more efficiently with fewer losses helps to maintain the integrity of the system," said John Hallacy.

"A lot of these priority items are bottlenecking, said Brian Egan, director of government affairs at the National Association of Bond Lawyers.

Plans for a garbage-to-jet fuels facility in Gary, Indiana, are on hold after bonds for the same operator's plant in Nevada went into default.

LSEG Lipper data Thursday showed $297 million of outflows from municipal bond mutual funds for the week ending Wednesday after $780.1 million of outflows the week prior.