Markets

A number of factors are driving rate volatility, but the muni market is better positioned for a strong summer than it has been in a decade, according to Hennion & Walsh's James Pruskowski.

Municipal issuers sold $299.293 billion of bonds in the first half of 2026, up 5.2% year-over-year, according to LSEG data.

Illinois-based Bernardi Securities released an Environmental Risk Index that gauges relative environmental risk within municipal bond portfolios.

Strong offerings and the promise of July redemptions are helping munis weather a rough UST market, according to NewSquare Capital's Kim Olsan.

Separately, the Puerto Rico Oversight Board approved the second consecutive consensually agreed upon budget, balanced according to modified accrual standards.

SMAs are a "shoot now, ask questions later" type of buyer, said Dan Close, head of Nuveen's municipal fixed income team.

The U.S. and Iran have agreed to stop attacks in the Strait of Hormuz, Tim Iltz wrote for HJ Sims, but the tensions have taken a toll on oil prices.

Issuance is on pace for another year of record supply even as factors driving credit spreads change, Center for Municipal Finance Director Justin Marlowe said.

Issuance falls to an estimated $5.055 billion this week, lighter due to the holiday, and it's possible some deals will come on Monday.

The Museum of Modern Art's "preeminent" reputation has powered the New York City institution's finances. It may have boosted its municipal bond sale last week.