Markets

Fitch revised upward its outlook for Marin General Hospital and affirmed its revenue bonds at BBB, and general obligation bonds at AA-minus.

Supply is slightly lower this week at nearly $10 billion but not by much, with the pace of supply suggesting $500 billion of issuance for the year could still happen, said Tripp Kaiser, a managing director at Municipal Market Analytics, Inc.

Wells Fargo Head of Municipal Markets Strategy Vikram Rai said on Monday that Illinois' bonds are underappreciated as he released a report on the state.

The district plans to price about $100 million of bonds Thursday, the first since Gov. Ron DeSantis took over control of it by appointing its board of supervisors.

The proposed sale size has grown to $1.5 billion and the city claims it will bring $90 million in savings this year.

The University of Arizona, which was hit with negative rating outlooks earlier this year, scheduled a debt refunding led by Morgan Stanley for Wednesday.

The rating is a new milestone in the state's long road out of legislative dysfunction.

City Comptroller Brad Lander said he's optimistic about the deal, congestion pricing lawsuits and his mayoral campaign.

Muni yields were cut up two to five basis points, depending on the curve, while UST yields rose five to seven basis points, pushing the 10-year UST yields above 4%.

Cleveland returns to market Wednesday in the first of two bond deals this month. That $64.4 million GO deal funds public parks, bridges and road improvements.