The top muni bond counsel firms accounted for $318.67 billion in 8,474 transactions in 2018, down from $407.47 billion in 10,519 deals the year before.

Michigan lawmakers must pass a 2026 budget before Oct. 1, but the Republican-controlled state House and Democratic-controlled Senate are far apart.
Chicago Public Schools plans to return to market with $650 million of Series 2025A unlimited tax general obligation bonds.
Analysts credited governance improvements Connecticut put in place in 2018, which have reduced the state's liabilities and improved its reserves.
The muni market is in a position to rally in the latter part of this year, said Daryl Clements, a portfolio manager at AllianceBernstein.
California lawmakers, who announced a deal with Gov. Gavin Newsom in June, say his administration failed to agree on loan terms ahead this week's deadline.
While victims' attorneys now signal support for the settlement, bond attorneys still oppose the plan.