Markets

RBC and two muni managers settled charges of flipping bonds in the SEC's latest action targeting abuse of retail order periods.

Refinitiv Lipper reported $1.3 billion of inflows and an increase in high-yield flows, marking the 28th consecutive week the fund complex saw inflows.

Illinois trimmed yield penalties in its latest sales tax-backed sale with spreads of 40 and 45 basis points on its 10-year compared to 89 bp three years ago.

While falling to the lowest amount of inflows since June 2, the total for the year according to ICI at $72 billion, is still on pace to come close to or break the record, $93.2 billion, hit in 2019.

Ridership on the RTA's three service boards remains sharply below pre-pandemic levels but it benefits from coronavirus relief and stellar sales tax performance.

Large new issues from California, New York utilities and airport deals were repriced to lower yields and remained the focus for the municipal market, again ignoring a swing by U.S. Treasuries.

Moody's says Guam needs to be ready to respond to shortfalls.

Market participants welcomed the municipal-related provisions in the reconciliation bill but are hesitant to start making bets on its passage.

The university heads into the market this week with a mix of tax-exempt, taxable, new money sustainability and refunding bonds

The Long Island utility intends to sell electric system general revenue bonds in three tranches.