Markets

The airport's first new money foray into the muni market in nearly 12 years will begin to fund a $1.3 billion transformation plan.

While the municipal market barely budged following the Fed's decision to cut rates 50 basis points, Thursday saw muni yields rise up to two basis points, depending on the scale, but still lagged the weakness in USTs. LSEG Lipper reported $716 million of inflows into municipal bond mutual funds.

The product is designed to give SOLVE's customers visibility into "next-trade" pricing data for more than 900,000 munis.

After getting positive outlooks from three rating agencies since 2023, Oklahoma received its first upgrade.

The agency cited a sustained commitment to healthy reserves and structural balance.

The city of Clyde defaulted in August and recently revealed it used debt proceeds for debt payments in a manner that "disguised the deficit cash flow."

The record pace of municipal bond supply this year is driven in part by cities and states realizing projects won't get any cheaper if they wait.

The ratio of local government municipal debt to GDP in aggregate has fallen to around 10% from 20% in 2010.

The competitive sale comes as the market prepares for a very New York-heavy week next week in the primary.

For municipals, Wednesday "marks a crucial step forward, perfectly aligned with the current risk landscape," said James Pruskowski, chief investment officer for 16Rock Asset Management.