Markets

Although the proposal ultimately didn't become law, that disconnect created an attractive entry point for investors because prices reflected tax policy fears — not deteriorating municipal credit.

After the week's losses, August could kick off with a "buyer's market" for munis, Peter DeGroot wrote for J.P. Morgan.

With longer-term municipal bond yields falling, there's less of an incentive to issue tender option bonds, analysts said, but a market remains. 

Wednesday's FOMC meeting helped sparked a selloff in U.S. Treasuries. On Thursday, it was the muni market's turn to react, MMA's Kevin McGuigan said.

The city brings $122.2 million of GO bonds to market next week, believing its investment-grade ratings outweigh the defaults of the Puerto Rico government.

The muni market is enjoying more favorable tax-exempt yields, NewSquare Capital's Kim Olsan said; they may be helping the market ignore the fallout from the FOMC meeting.

The value of the Florida cancer treatment center and the mortgaged property is unlikely to cover the bond debt, the trustee said.

The muni market is going through a period of "consolidation, not to be confused with deterioration," according to Hennion & Walsh's James Pruskowski.

Beneficial rainfall allowed the Texas city to move its timeline for a projected water supply emergency to September 2028 from the same month in 2027.

The strong day for munis and USTs is likely due to the United States pausing its military strikes on Iran, said Ajay Thomas, head of public finance at FHN Financial.