Maryland

States, on the front lines of implementing the new $1.1 trillion infrastructure program, want clear, flexible federal rules and the ability to tap private investment.

The departure of Maryland's second-longest serving state treasurer will leave a void in the public finance community.

With a lot of cash still needing to be put to work, the Investment Company Institute showed another large week of inflows at $1.814 billion.

Another replacement for exempt advance refundings, forward delivery bonds are attractive to issuers looking for savings and investors seeking incremental yield.

Another $2 billion-plus was reported flowing into municipal bond mutual funds in the latest week, continuing to be a supportive demand component for munis.

Municipals are tethered to Treasuries, more so in recent sessions, and have cheapened, but strong technicals — $18.5 billion of net negative supply and large reinvestment needs — still hang overhead.

Better-than-expected job gains, a rising UST complex and an increase in supply to test municipals' resolve.

Ridership displacement, remote work and online shopping amplify pre-pandemic challenges such as large capital plans.

Global bond yield move suggests financial markets are much more optimistic about the economy than the Fed.

Muni yields rose another five basis points on the 10- and 30-year, bringing the total cuts to scales to 18 and 17 basis points, respectively, from Tuesday as the asset class moved closer to UST movements after lagging that market since the start of the year.