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Federal Reserve policymakers scaled back their expectations for rate hikes this year after a series of bank collapses roiled markets last month, and stressed they would remain vigilant for the potential of a credit crunch to further slow the economy, a record of the meeting showed.

Alabama officials and private interests say large reserves of metallurgical coal, a necessary ingredient in steel production, will spell economic fortune.

President Biden has vetoed the recent congressional resolution that would have overturned protections provided by EPA's clean water rule.

Ongoing litigation and a state investigative audit could impact bonds for a $5 billion expansion even if the debt is validated by the Oklahoma Supreme Court.

Brian Wynne joins Jefferies as co-head of the municipal syndicate, while Morgan Stanley continues to see turnover in its muni ranks.

The decrease in long-term interest rates this year has helped banks' bond portfolios recover a bit. Some of them may consider restructuring their securities portfolios in the short run, and longer-term changes are also possible as the fallout from last month's crisis continues.

Most of the top 10 issuers are mostly from just two states, with four from New York and three from California.

Among the top underwriters, J.P. Morgan Securities, Citi and Wells fell out of the top five while Jefferies entered the Top 10.

The second half of 2023 may see a slowdown, perhaps even a mild recession, said Daniel Close, the newly named head of municipals at Nuveen.

It's the firm's third office in Alabama and part of an investment capitalizing on growth of some high-tech industries in the state, the firm's chair Christopher Maddux said.