Markets

After the FOMC made taper official, high-grade benchmark yields ended the day one to three basis points better while USTs ended the day higher after an up-and-down trading session that moved the 30-year back above 2%.

A federal judge signed off on sanctions against IFS Securities Inc.'s former head trader for allegedly pocketing phony commissions and unauthorized trades that bankrupted the firm.

Fitch Ratings revised the Canaveral Port Authority and Port Everglades rating outlooks to stable from negative as cruise ship activity accelerates.

The FOMC will likely take the opportunity to profess its reliance on data to decide liftoff and reiterate the threshold for a rate hike remains higher than for taper.

The Illinois State Toll Highway Authority plans $600 million of borrowing next month and $500 million next year as its 15-year-old capital program remains in full speed ahead mode.

Chuck Stavitski and Elaine Brennan of Roosevelt & Cross and Ken Bieger of the Niagara Falls Bridge Commission talk about how the Canadian border closing due to COVID-19 affected upstate New York issuers. Chip Barnett hosts. (16 minutes)

Though monetary policy has been in the forefront, at mid-month the tone changed with global inflation outlooks and federal infrastructure and social package in flux.

A lighter, $5 billion calendar, heavy on healthcare, kicks off November. Most participants agree volatility in U.S. Treasuries will be a leading factor for municipal market performance. Uncertainty in Washington also isn't helping the asset class.

Key institutional players like banks and insurance companies may have less incentive to buy tax-exempt munis if the provision becomes law.

October has, on average, been the heaviest new-issue month of the year. Analysts said the lower volume, particularly taxables, was led by many issuers sitting on the sidelines, waiting for a potential package from Washington, D.C.