Markets

"People are just kind of sitting on their hands and being careful because MMD is raising yields every day and people don't know which way this is heading," said John Farawell of Roosevelt & Cross.

The rating agency removed the negative outlook it had assigned after the community college district's accreditation was threatened.

The Texas Water Development Board leads the new-issue calendar with $1 billion of revenue bonds.

The long-time high-yield muni manager left Nuveen in April when the firm settled a contentious lawsuit with Preston Hollow.

The MAMBA Act would modernize IRS rules affecting private activity bonds.

The general bias toward muni rates is that they would be a bit higher with technicals "being a little less supportive than they were in August, plus what we heard with from the Fed 'higher for longer,' and potentially another hike," said Jeff MacDonald, head of Fixed Income Strategies at Fiduciary Trust International.

The private equity firms accused the bank of concealing key changes to a credit agreement, in part because it wanted to win future muni bond business from Brightline Holdings.

Ocean Capital's next move is to attemot to have its elected directors seated on the funds' board of directors.

As was expected, the FOMC held rates in a range between 5.25% and 5.50%, but the dot plot in the Summary of Economic Projections showed 12 of 19 members expect another 25-basis-point rate hike this year.

The website now shows Bloomberg's yield curve with hourly updates between 9 a.m. and 4 p.m. The move changes EMMA's usual practice of displaying yield curve data from the day before.