Markets

The $1.4 billion seaport revenue refunding bond deal Wells Fargo will price next week will be the largest port transaction since the COVID-19 pandemic began.

A federal judge denied Nuveen's motion to dismiss Preston Hollow's antitrust lawsuit concluding a "plausible" claim exists to proceed. PHC faces a tougher legal road ahead in proving its rival orchestrated a damaging boycott.

Municipals are tethered to Treasuries, more so in recent sessions, and have cheapened, but strong technicals — $18.5 billion of net negative supply and large reinvestment needs — still hang overhead.

The legislation passed the Senate by 69-30 setting the stage for House lawmakers to work on it and for Senate Democrats to weigh a social infrastructure agenda.

Chicago is accepting underwriter qualifications as it updates its investment banking pool; it also delayed the bidding deadline for potential casino developers.

Triple-A benchmarks saw cuts of one to two basis points across the curve, but still outperformed two days of UST weakness and have outperformed UST losses since the start of the month.

The forthcoming Texas law bans businesses from state contracts if their policies are said to discriminate against the firearms industry.

Treasury has already halted the sale of state and local securities, known as SLGS.

Better-than-expected job gains, a rising UST complex and an increase in supply to test municipals' resolve.

Kyle Hemminger joined Cain Brothers this month in Columbus, Ohio.