Markets

Virgin Islands Sen. Kurt Vialet said he expects the legislature to approve the refunding bill by Monday. The current bill does not include an interest rate cap that killed a refunding deal attempted in September 2020.

The Texas attorney general’s office is seeking more information on Citigroup’s gun policies as the bank stages a comeback in the state’s municipal bond market.

Munis are expected to underperform for another few weeks as markets remain volatile and investors reevaluate allocations.

The Marshall Fire burned 6,000 acres in 24 hours and destroyed more than 1,000 homes in suburban Boulder County between Denver and Boulder.

The combination of steady supply, heavy secondary selling and inconsistent demand have moved yields to their highest levels since May 2020.

Maryland blames a "post-pandemic market" for cost increases lifting the light rail line's price tag to $9.28 billion. The system is to open four years late in 2026.

While challenges abound — shuttered industries, outmigration and COVID — there are positive signs the territory’s economy can be boosted.

Refinitiv Lipper reported $238.926 million of outflows, but $182.035 million of inflows to high-yield, reversing last week's outflows. New-issues faced concessions.

The Investment Company Institute reported a large drop of inflows into municipal bond mutual funds at $142 million in the week ending Jan. 12, down from $1.413 billion in the previous week.

The 2-, 5- and 10-year UST is higher than before the pandemic began as investors factor in a rate hike as soon as March.