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The collapse of Silicon Valley Bank and Signature Bank clouds the economic landscape and complicates monetary policy decisions but it's a long way off from the troubles banks and broker-dealers faced in the 2008 financial crisis.

The school district's AA-plus rating is supported by strong reserves and Houston's economic strength, S&P Global Ratings analysts said.

Outflows continued as Refinitiv Lipper reported $461.123 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $307.815 million of outflows the week prior.

President Biden's budget would allow large transit agencies to divert formula capital grants to operations in 2024, a move that one transit official said may hurt smaller agencies.

Illinois earlier this week saw its second upgrade of the year and Gov. J.B. Pritzker suggested an uptick in revenue projections could provide room to further bolster fiscal metrics that helped draw the upgrade.

The Texas Education Agency, which initially sought the takeover in 2019, will appoint managers to run the state's largest public school system.

The Securities and Exchange Commission proposal would require all market entities to implement policies and procedures to address cybersecurity risks.

"What is happening at Silicon Valley Bank is on everyone's mind," UCLA Anderson Forecast Director Jerry Nickelsburg said at its quarterly economic update.

OTA has come under increased scrutiny as it embarks on a $5 billion, bond-financed project that has been challenged in court.

The collapse of Silicon Valley Bank and Signature Bank won't impact the Fed or the market enough to cause rates to drop and refunding volume to significantly increase, according to muni experts.