The Latest

While the muni market faces some headwinds, such as rich relative yields, near-term returns "are likely to be favorable for munis," said Cooper Howard, a fixed-income strategist at Charles Schwab.

Pierluisi says there's more to the island's growth than federal funds. Bondholders said that means the Puerto Rico Electric Power Authority can afford to pay them more.

The project was to have been the first small modular reactor technology in the U.S.

The downgrade of Issaquah School District 411 to Aa1 affects $670 million in debt.

U.S. regulators' swift action in March to ring-fence the banking sector after the collapse of Silicon Valley Bank might have had an unintended consequence of driving cash out of bond funds by enhancing the appeal of deposits, two New York Fed researchers say.

A group of about 10 bankers reportedly is departing Citi for Jefferies.

The city has made some important progress on the expenditure side, but the new mayor's first budget didn't make similar strides on revenues, according to Fitch.

"The upgrade of Pennsylvania's IDR and related ratings reflects recent use of revenue surpluses to build its reserves to historical highs and Fitch's expectation that substantial reserves will be maintained in the near term," the rating agency said.

Megan Kilgore and Virginia Wong talk about how navigating a challenging time in the municipal market has led them to rethink mentoring a younger generation of leaders, and how it is moving the public finance industry forward. Lynne Funk hosts. (39 minutes)

The BSBY interest rate benchmark was originally envisioned as a successor to the once-ubiquitous Libor rate. But it failed to gain much traction, and Bloomberg now plans to shut it down next year.