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The Bloomberg Municipal Index has returned 1.90% so far in December and 5.96% year-to-date, while the High-Yield Index is up 2.75% this month and 8.94% in 2023. Taxable munis are returning 3.98% in December bringing year-to-date returns to 7.83%.

SIFMA, which also filed a brief, said the District Court judge's rejection of a bondholder lien on PREPA's revenues "grossly misreads the underlying bond documents."

States have taken a wide variety of approaches to their uses of pandemic aid.

The bill would require government agencies to undertake an independent audit and a public comment period before entering into P3s among other provisions.

So far, the temporary Bally's casino in Chicago has brought in about a quarter of the tax revenue it needs to generate to keep up with budget expectations.

The rebound in the cruise industry, which has now more than recovered all the ground it lost during the pandemic, lifted the Canaveral Port Authority's rating.