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Muni yields were cut four to eight basis points, depending on the scale, while UST yields rose seven to nine basis points. Muni outperformance and rich ratios continue.

Richmond Federal Reserve Bank President Thomas Barkin said he wants to see more evidence that U.S. inflation is easing back to the central bank's goal of 2%.

Two ratings agencies expect AES Puerto Rico to default on Puerto Rico municipal conduit bonds.

The House Republicans proposal to avoid a debt limit default relies on spending cuts and "capturing" unspent COVID aid.

Participants in the Texas municipal market raised concerns over bills that would constrain debt issuance.

S&P raised Massachusetts' general obligation long-term credit rating to AA-plus from AA.

For long-term muni bonds, BofA strategists noted that macro market and supply/demand conditions "are dominating the picture, pushing the high-grade muni market to a relatively rich valuation versus Treasuries."

Federal Reserve Governor Christopher Waller said he favored more monetary policy tightening to reduce persistently high inflation, although he said he was prepared to adjust his stance if needed if credit tightens more than expected.

Swain set a deadline ahead of what was requested by the Oversight Board.

A New York judge ordered an affiliate of the owner of the mall to pay $389 million to junior lenders on a construction loan.