Markets

The St. Louis Fed's James Bullard and the San Francisco Fed's Mary Daly said economic conditions may justify lower interest rates.

Siebert Cisneros Shank & Co. hired industry veterans Levi Davis and Ron Morrison as managing directors in its Dallas office.

If approved, the junk-rated city would issue $200 million of new money unlimited tax general obligation bonds in the summer of 2020.

Weekly bond volume is forecast to hit $6.99 billion in a calendar composed of $4.36 billion of negotiated deals and $2.63 billion of competitive sales.

The decision to release the plan signals a resolve on the part of at least some lawmakers to prioritize infrastructure legislation even though President Trump recently announced he won’t work with top congressional Democrats as long as he’s under investigation by them.

Though monthly issuance improved to $27.46 billion, the most this year, it remained 22% below the May 2018 level.

The New York MTA is set to issue $50 million of variable rate revenue bonds on Clarity Bidrate Alternative Trading System, highlighting the uptick in usage of variable rate debt.

Mayor Lori Lightfoot called on Edward Burke, the former finance committee chair, to resign from city council after new federal corruption indictments.

An uptick in inflation may be a sign that Federal Reserve Chair Jerome Powell was right when he said a dip in prices could be brief, allowing patience on rates.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.74% from 3.75% the week before.