Markets

"Investors typically start positioning for heavy summer redemptions in summer, so the market typically performs well enough through the first half of June and we do not believe that this year will be any different," Barclays strategists said.

The state's expectation of a deficit in the coming biennium budget was cited in the outlook revision.

Jay Leno, longtime comedian, TV host and car enthusiast, promoted an upcoming municipal bond deal in a video for Hollywood Burbank Airport.

Researchers examined more than 580,000 municipal bond issues and say the data shows communities with higher wildfire risk pay higher interest rates.

It was another "topsy-turvy day" for munis, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital. Munis have been weaker on the front end for a few days, leading to a slight inversion of the curve, starting around the 2028 maturities, Olsan said.

Market Intelligence analyst Jeff Lipton revisits the taxable muni market's expansion from the 1986 tax reforms through the BAB era, showing how call features, policy changes and rate cycles influence issuance, and why taxable munis remain a flexible tool for issuers and investors.

Moody's Ratings announced a stable rating outlook for Washington, D.C., good news for a city reeling from federal job cuts and gearing up for a mayoral race.

Mohammed Murad, head of credit research for PT Asset Management, said the ceasefire extension "possibly offers less clues as to what a permanent resolution may look like."

The PFA owns nine bond-financed credits, ranging from proton cancer therapy centers to student housing. All but one are in default.

Fitch revised the outlook to negative from stable, citing a significant jump in leverage.