Markets

The firm plans to launch a pair of high-yield muni funds in January.

Jaime Alvarez, who joined the Oregon State Treasury from Houston in 2021, was named the state's director of debt management in October.

"Everyone is reevaluating and taking a breather after the numbers [on Tuesday]," a New York trader said.

Prices have fallen for Alabama private activity bonds issued for wood pellet producer Enviva amid the firm's larger struggles.

Proceeds from the deal, along with additional monies, were to have been used to fund the costs of the Royal Caribbean Cruises' campus project as well as a debt service reserve fund.

Munis yields fell nine to 12 basis points, depending on the curve, but underperformed larger gains along the UST curve. Large new-issues began pricing.

The deal will finance construction of an 800-room convention headquarters hotel as part of a wider expansion of the facility.

Moody's kept stable rating outlooks on Florida, Maryland and Virginia after moving the United States to negative. D.C.'s outlook was cut.

November "continues to be off to a strong start as yields have fallen an average of 34 basis points across the curve since the start of the month," said Jason Wong, vice president of municipals at AmeriVet Securities.

Flush with bond authorization from the Nov. 7 election, officials are formulating issuance plans, while Colorado's governor called lawmakers back to session after a property tax cut measure was defeated by voters.