Markets

Outflows continued as Refinitiv Lipper reported $427.082 million was pulled from municipal bond mutual funds in the week that ended Wednesday after $461.123 million of outflows the week prior.

"In short, it appears that the end of the current tightening cycle is coming into view," said Wells Fargo Securities Chief Economist Jay Bryson.

After a tumultuous week, expect another ahead, said Matt Fabian, a partner at Municipal Market Analytics.

Redwood City-based Summit Public Schools had its bond rating downgraded to Ba3 from Baa3 by Moody's and its outlook revised to negative.

The state plans to enter the market before the fiscal year closes June 30th with eyes turned to Fitch and whether it will follow Moody's and S&P with an upgrade.

The bill's sponsor pointed to board members' need for expertise.

The $250 million in debt being issued for Montana Renewables is equal to nearly half the state's issuance for last year.

The banking sector crisis caused a flight-to-quality bid in USTs last week.

Investors will be greeted Monday with a new-issue calendar estimated at $4.064 billion.

The collapse of Silicon Valley Bank and Signature Bank clouds the economic landscape and complicates monetary policy decisions but it's a long way off from the troubles banks and broker-dealers faced in the 2008 financial crisis.