Finance

While issuance is up year-over-year, weeks like this can be difficult to find the right deals, said Whitney Fitts, director of municipal portfolio management at Appleton Partners.

"We expect subdued activity again [this] week heading into the Labor Day holiday," Birch Creek strategists said.

Munis underperformed a UST rally, which had everything to do with Powell's speech at the Jackson Hole symposium and future Fed action, said Cooper Howard, a fixed income strategist at Charles Schwab.

San Francisco Bay Area Rapid Transit has struggled to regain ridership after the pandemic.

A state lawmaker is asking the court to invalidate a 2022 nearly $700 million bond sale due to inadequate audits by the Oklahoma Corporation Commission.

A possible explanation is that the massive inflows into mutual funds are a parallel move to large inflows into the Capital Group Municipal High-Income ETF, which saw the biggest inflow of a ETF on Friday at $1.5 billion, said Pat Luby, head of municipal strategy at CreditSights.

FOMC meeting minutes "clearly show why they didn't cut rates," said Northlight Asset Management Chief Investment Officer Chris Zaccarelli.

The 10-campus public university system apparently scrapped plans to price $1.5 billion in debt this week.

Gary Hall and Sobani Warner were named co-presidents of Siebert Williams Shank as CEO Suzanne Shank focuses on client relationships and strategic initiatives.

The muni bond market remains strong, supported by Treasury market strength, said Anders S. Persson, Nuveen's chief investment officer for global fixed income, and Daniel J. Close, Nuveen's head of municipals.