Markets

The Metropolitan Washington Airports Authority plans to refund about $400 million and sell $429 million of new money for its capital construction program.

Muni yields rose up to 13 basis points Wednesday, depending on the curve, coming on the tailwind of a market correction, said Brad Libby, a fixed-income portfolio manager and credit analyst at Hartford Funds.

Orrick, Herrington & Sutcliffe take the top spot with a 10.29% market share.

Overall education issuance, including higher ed, K-12 and student loan debt, in 2023 totaled $94.9619 billion, or 3.6% more than 2022's totals.

S&P Global Ratings revised the outlook on bonds issued for the University of Chicago Medical Center to negative from stable.

The California Community Choice Financing Authority was the leader in the public power sector, issuing nearly $5 billion or 28% market share in 2023. It was also one of the top 10 overall issuers of 2023.

Fulcrum BioEnergy, which raised more than $1 billion to turn household waste into lower-emitting fuels for planes and trucks, is in danger of going under.

SMA growth has been "pretty staggering to see," said Matthew Schrager, managing director and co-head of TD Securities Automated Trading, noting the "interplay between SMA and electronic trading is a very symbiotic relationship."

The owner of an Iowa nitrogen fertilizer plant with more than $800 million of munis outstanding is trying to sell the plant to one of its largest competitors.

Munis sold off last week "as the anticipated market correction may have finally started ahead of the summer reinvestment period," said Jason Wong, vice president of municipals at AmeriVet Securities.