Markets

Oklahoma is on a roll, notching its third positive rating outlook since July with the latest move coming from Fitch Ratings.

"Even though it is hard to see the market falling out of bed and underperforming in the near term, we are more cautious going into March," Barclays PLC said in a report.

The state expects to release a RFQ for interested consortiums later this year and has named I-24 as the first toll lane project.

Ex-IFS Securities head of fixed income Keith Wakefield committed criminal securities and wire fraud from 2017 to 2019, a federal jury in Illinois found.

Municipals were steady to improved in spots in secondary trading as another day of sizable new-issues were well-received in the primary market.

"Jason has a proven record as an outstanding leader who brings clarity, decisiveness and expertise to his role with our Fixed Income Capital Markets division," said HilltopSecurities CEO Brad Winges.

PureCycle Technologies announced that its Ohio subsidiary agreed to buy out the holders of $219.55 million of outstanding tax-exempt private activity bonds.

Most tax-exempt tenders saw low participation, which is good news to the taxpayers. The poorer the participation in the tender, the less is the waste from these premature refundings prior to the call date.

"The debt afforablity study was just released. In this study we outlined how state debt is going to be falling by 60% over an eight year period," state Treasurer Dale Folwell said Tuesday.

Some participants on the Street estimate that SMAs hold as much as $1.5 trillion of munis while others peg it closer to $1 trillion to $1.3 trillion.