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The state managed to grow revenues above forecast for the first two months of the fiscal year despite the delayed tax filing deadline.

School districts and local governments may only hold bond elections once a year now, in November. They also face new state-imposed revenue limits.

Gov. Brian Kemp signed an executive order to suspend state taxes on gas and diesel as fuel costs remain stubbornly high nationwide.

With a light new-issue calendar ahead of the FOMC meeting, "secondary flows may benefit from greater attention," said Kim Olsan, senior vice president at FHN Financial.

Gov. Gavin Newsom, speaking at Climate Week NYC, said he'll sign bills requiring companies to increase reporting on greenhouse emissions and climate risks.

The GOP stopgap funding measure may only kick the can down the road for a month, but how this bill passes will have implications for how Congress feels about additional spending measures.

A constitutional amendment on the Nov. 7 ballot would deposit $1 billion in a Texas Water Fund with at least 25% earmarked to increase the drought-prone state's water supply.

With the Federal Open Market Committee expected to skip an interest rate hike, all eyes turn to the Summary of Economic Projections and Chair Powell's remarks.

The governor said the budget would needlessly wipe out a rainy-day fund.

"We believe investors should take advantage of the current high rates environment: investors should pick and choose bonds selectively in the coming weeks in anticipation of this tightening cycle's end after November," BofA strategists said.