Markets

Summer redemption season ends Tuesday when issuers return $9 billion of matured or called bond principal, said CreditSights strategists Pat Luby and Sam Berzok.

The investor-owned utility issues tax-exempt bonds through the Hawaii Department of Budget and Finance.

Bondholders granted some breathing room to the speculative-grade polypropylene recycling project along the Ohio River, now reported to have entered production.

"The recent outperformance has valuations nearing stretched levels again," Birch Creek Capital said in a weekly report. "If USTs reverse the recent trend higher, we would not be surprised to see munis lag during the rally."

The rating agency's release ESG credit indicators for states and territories last year was blasted by GOP officials for being politicized, vague, and confusing.

Another day of mixed inflation data led Treasury yields to rise but munis mostly stayed put after underperforming a UST rally earlier in the week. The market is also focused on the $9 billion of redemption flows coming on Tuesday.

Refinitiv Lipper reported $278.559 million of inflows into municipal bond mutual funds for the week ending Wednesday, led by exchange-traded funds.

Three utility entities associated with the development of nuclear energy in Georgia have received better rating outlooks from S&P Global Ratings.

"Weaker performance is in part driven by higher permanent labor costs," Moody's said. "These elements highlight rising human capital and financial strategy risks under Moody's ESG classification and are key drivers of this rating action."

New York City's $1 billion deal was re-priced to lower yields and a tax-exempt and taxable deal for the NFL's Tennessee Titans new stadium priced.