Markets

The 30-member syndicate plans to begin retail order pricing Wednesday with institutional sales planned for Sept. 8 on the new money and refunding GOs.

The Investment Company Institute reported $755 million of outflows from muni bond mutual funds in the week ending August 24 compared to $320 million of inflows the previous week.

Chicago's O'Hare $1.77 billion offering took center stage this week with the city offering a diverse structure to lure buyers.

Many market players have revised their supply projections downward since rising interest rates have slowed down refunding and taxable volumes and general market volatility has stopped some issuers from participating.

The veteran-owned and operated firm complements its continued growth with experienced public finance professional to oversee Southeast banking.

After underperforming USTs last week, "munis have given up their earlier performance advantage for August with both asset classes currently earning virtually the same negative returns," said Jeff Lipton, managing director of credit research at Oppenheimer Inc.

COVID-19 worsened the fiscal picture for the senior care, insurance, and hospital operator, but it faced rating pressure before the pandemic.

S&P Global Ratings, who revised the state's GO bond outlook from negative to stable last week.

Fed Chair Jerome Powell's message on rates last week combined with seasonal factors to give the market a "weird" vibe this week, one trader said.

The authority maintained positive rating momentum by drawing outlook changes from Moody's on both its water and sewer bonds and from Fitch on its sewer debt.