Markets

Single party control of a state eases perception of bond default risk associated with laws like Chapter 9, a study found.

Issuance has remained robust over the past two weeks, with Wednesday being a particularly busy day.

Volume is predicted to continue at "robust levels," possibly through the fourth quarter, said Matt Fabian, a partner at Municipal Market Analytics.

With the reputational stain from the county's 1994 bankruptcy long in the rearview mirror, the southern California county had its rating boosted to the highest rating by S&P Global Ratings.

The $238.8 million of voter-approved debt will end a 12-year drought in new money general obligation issuance by the nation's fifth largest city.

Financial markets are trying to "absorb" the outcome of higher odds of Trump winning in November, said James Pruskowski, chief investment officer at 16Rock Asset Management.

While the market awaits the initial FDTA proposal, some wonder if the rulemaking will be affected by the upcoming presidential election and the U.S. Supreme Court's Chevron decision.

Cabarrus County planned to use most of the proceeds to pay off a bond anticipation note.

The New York City Transitional Finance Authority is set up to refund Build America Bonds as part of a $2.11 billion deal slated to land in the market this week.

In the summer, the market will largely move "sideways" and underperform late in the third quarter to early in the fourth quarter, "while possibly recouping most of its losses late in the year depending on the outcome of November elections," said Barclays strategists.