Markets

The system is incorporating some floating-rate risk into its fixed-rate debt portfolio to allow for strategic flexibility after its new hospital campus opens.

Last week, munis underperformed the Treasury market "across the curve through Thursday with yields lower just 13bps," according to Birch Creek strategists. However, they said Friday's rally "in the front end helped pull shorter maturity munis ahead."

The legislation would boost the size limitation of industrial revenue bonds and expand the uses of proceeds.

For the coming week, investors will be greeted with a new-issue calendar estimated at $8.213 billion.

The electrical generator provides about 21% of the Puerto Rico Electric Power Authority's electricity and the default's impact on PREPA and PREPA's bankruptcy remain to be seen.

Reinvestments, which includes maturities, called bonds and coupons, total over $114 billion over the next four months, according to ICE Data.

Outflows continue as Refinitiv Lipper reported investors pulled $1.345 billion from municipal bond mutual funds for the week ending Wednesday.

Suzanne Shank has been chosen as chair of the 2024 Mackinac Policy Conference, the Detroit Regional Chamber announced.

State legislation that increases Milwaukee's revenue prospects falls short of what the city needs to manage rising pension and other costs, Fitch Ratings said.

The Visitor Bureau says the number of tourists this fiscal year is likely to be 40% less than what had been predicted. Tourism is a large portion of Guam's economy.