Markets

After the DOT "expedited" a $25 million investment in the train, Q1 trespassing incidents and collisions on Brightline Florida fell 30% year-over-year, the office said.

Market Intelligence analyst Jeff Lipton maps where credit remains stable and where caution is warranted in his mid-year scorecard, flagging pressure points in higher education, K-12, tobacco and parts of local government while outlining the structural strengths supporting states, airports and other essential-service sectors.

Supply has been robust in June but issuance falls to an estimated $8.137 billion this week.

There has been some "capitulation" in munis lately. The asset class was outperforming USTs until very recently, said Chris Brigati, managing director and CIO at SWBC.

Many factors impact the performance of munis, and, this year, everything seems to be working for the positive.

City officials attribute the structural deficit to inflation-driven spending increases combined with revenues that have not kept pace.

Muni yields were cut up to five basis points Thursday, depending on the scale, after yields rose up to two basis points the day prior.

Market Intelligence analyst Jeff Lipton explains how California Mello-Roos land-secured bonds can add yield and diversification, and outlines the underwriting checklist investors should use to balance development risk against structural protections.

Local governments will face "greater credit pressure" if voters largely eliminate property taxes on more than half of homes in the state, S&P analysts said.

The initial reaction following the CPI report didn't "move the needle" in the bond market, as the 10-year UST yield was just over 4.5%, said Jay Woods, chief market strategist at Freedom Capital Markets.