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It's difficult to tell whether the markets were more affected by spiking oil prices, eroding peace talks between the United States and Iran, or Kevin Warsh's hawkish comments during his confirmation hearing to chair the Federal Reserve, said James Pruskowski, managing director at Hennion & Walsh.

The Texas city's latest projection for the onset of a Level 1 emergency comes as water woes spurred rating downgrades and negative outlooks since last fall.

The $14.6 billion budget calls for hiring police and Olympic-focused infrastructure spending after last year's spending plan proposed layoffs.

Kevin Warsh, President Donald Trump's pick to lead the Federal Reserve, denied that he would act as Trump's "sock puppet" if he's confirmed and said the president has directed him to lower interest rates.

Market Intelligence analyst Jeff Lipton warns that as ESSER-era support fades, shifting enrollment patterns, voucher expansion, tax-cut dynamics and rising costs are exposing credit stress in parts of the K-12 sector — making security selection and disclosure discipline more important in 2026 and beyond.

MBIA says it isn't responsible for what its subsidiaries did.

The risk of contagion to the rest of the high-yield market is limited, investors said.

The Middle East conflict sent oil prices higher, potentially benefitting energy producing states, although heightened inflation risks could hit budgets.

Market support for taxables, particularly those from active issuers, remains firm. Taxables are seeing gains of 1.08% year-to-date, or 50 basis points above a UST index gain, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.

The market is experiencing a "calm before a potential storm," said Chris Brigati, managing director and CIO at SWBC.