Finance

Atlanta's airport lost $57 million of funding for the current fiscal year. Other issuers have even more at stake.

Muni yields rose up to eight basis points, depending on the scale, with the largest losses again on the front-end of the curve.

The short-end correction has been "driven by a solid labor market report, which pushed Treasury yields higher as expectations for additional Fed rate cuts tempered," said Alice Cheng, director of municipal credit and investor strategy at Janney.

S&P Global Ratings cut the Toms River Regional School District to A-minus from A, ending a negative CreditWatch but assigning a negative outlook.

Federal Reserve Bank of Kansas City President Jeff Schmid said that the central bank should continue its focus on curbing inflation, as the job market is "largely in balance."

S&P Global Ratings warned that Indiana's property tax reform law, Senate Enrolled Act 1, creates uncertainty for local income tax-backed debt.

Retail offerings from California and Connecticut led the market Wednesday.

It affirmed the California city's Aaa issuer rating, but cited the drag on revenues from tepid tourism numbers and liabilities from child sexual abuse claims.

Secondary selling pressure and the larger calendar weighed on the market Tuesday.

Chicago is returning to market with a $375 million deal for O'Hare Airport, according to multiple rating reports, with more on the way.