Markets

In a 2-1 vote, county commissioners approved an Oct. 8 competitive general obligation bond sale to keep funding a jail project amid escalating costs.

While issuance is up year-over-year, weeks like this can be difficult to find the right deals, said Whitney Fitts, director of municipal portfolio management at Appleton Partners.

Proceeds of the sale are expected to fund the purchase of the non-gambling businesses at Genting Group's Resorts World Catskills in Sullivan County.

"We expect subdued activity again [this] week heading into the Labor Day holiday," Birch Creek strategists said.

Revenue generated by the bureau's 10 managed lane projects is, on average, exceeding original projections by 63%.

"Rural hospitals were already uninvestible, in our mind," Columbia Threadneedle's Shannon Rinehart said. "What this has done is blow up any chance they have."

The relative rarity of the credit was compounded by their source of funds, the deal's size, and bond ratings slightly lower than New York state and city. 

Munis underperformed a UST rally, which had everything to do with Powell's speech at the Jackson Hole symposium and future Fed action, said Cooper Howard, a fixed income strategist at Charles Schwab.

San Francisco Bay Area Rapid Transit has struggled to regain ridership after the pandemic.

The University of Chicago went to market this week, as the Trump administration has targeted higher education and faculty criticize budget and program cuts.