Markets

"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.

A possible explanation is that the massive inflows into mutual funds are a parallel move to large inflows into the Capital Group Municipal High-Income ETF, which saw the biggest inflow of a ETF on Friday at $1.5 billion, said Pat Luby, head of municipal strategy at CreditSights.

RBC Capital Markets will be the underwriter for the bonds, which will have a maximum maturity of 40 years.

Hastedt says the city plans two bond sales this fall.