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"Yield levels are now notably higher throughout many sectors of the yield curve by a number of percentage points," said Morgan Stanley strategists Matthew Gastall and Daryl Helsing.

Nikolai Sklaroff replaces San Diego's Lakshmi Kommi on the California Debt and Investment Advisory Commission.

Moody's dropped Sparrow Health's rating a notch as it's not yet factoring in the financial and operational benefits of its acquisition by UM Health, which won't extent to a debt guarantee.

Bondholders say the Oversight Board's offer is less than it was a few weeks earlier.

The highly-rated city wants to pursue general obligation bond programs every five years to fund capital projects for its growing population.

"This week will likely have been the last active week of the year, but it turned out to be quite eventful," according to Barclays PLC.

State spending growth topped 18.2% in FY 2022, the highest annual increase in state spending since the National Association of State Budget Officers began recording the data in 1979.

The clock is ticking on Congress waiving PAYGO for Build America Bonds, a budget bear trap that could delay promised subsidy payments totaling $14 billion to issuers.

Sixteen Republicans joined all Democrats to vote in favor of the binding plebiscite.

A previous measure prohibiting government contracts with companies that "discriminate" against the firearm industry fell short of passing the 2022 legislature.