Markets

The upgrades follow Fitch's upgrade of Morgan Stanley, the guarantor to the gas supplier in all of the transactions.

Triple-A yields fell five to eight basis points while UST saw yields fall up to nine out long, moving the 30-year UST below 4% for the first time since mid-October.

Illinois raised its fiscal 2023 revenue estimates by $3.69 billion, giving Gov. J.B. Pritzker enough to propose doubling the state's $1 billion rainy day fund.

Fitch Ratings revised its outlook to stable from negative on BATA's AA-minus subordinate debt, retaining its stable outlook on AA-rated senior debt.

The borrowing arm of the Missouri Department of Transportation will take competitive bids on $489 million of new money debt Tuesday.

Puerto Rico's employment trends are better than its fellow territory's since the onset of the COVID-19 pandemic, say Federal Reserve Bank of New York analysts.

Munis were in their own lane while broader markets were mixed Monday as participants digested various Fed officials' comments on inflation and rate hike schedules.

The Infrastructure Investment and Jobs Act provides billions in grants for state and local governments. The challenge now is how quickly and effectively they can spend it amid an inflation–fueled rising–rate environment.

Both S&P Global Ratings and Kroll Bond Rating Agency revised their outlooks for Chicago general obligation bonds to positive from stable.

Fitch also affirmed the A rating on $800.3 million of senior lien seaport revenue bonds Miami-Dade County issued on behalf of its seaport department.