Markets

The Investment Company Institute on Wednesday reported $2.728 billion of outflows in the week ending March 23, down from $3.615 billion of outflows in the previous week.

Moody’s said MEAG's upgrade reflects the upgrade of Florida’s JEA Electric Enterprise ratings on Monday. JEA is to be a major customer of MEAG's nuclear units.

Without a reversal in UST or municipal bond mutual fund outflows, munis will continue to be pressured.

Holders tendered about 75% of U.S. Virgin Islands Public Finance Authority bonds that were eligible for a tender offer.

Moody's said its rating upgrades reflect the Jacksonville, Florida, utility's sound financial performance and governance changes.

Raymond James has agreed to acquire SumRidge Partners, a fixed income market maker dealing in investment-grade and high-yield municipal bonds.

With massive secondary selling pressure and a larger calendar, credit spreads are likely to continue to widen.

Washington University will sell $1 billion of new money with tentative plans to offer a mix of 30-, 40-, and 100-year paper.

Dallas Fort Worth International Airport will bring its first new money issue since 2017 to the municipal bond market next week, buoyed by an rating upgrade.

Next week's potential volume is slated to be more than $8 billion, led by $1.25 billion of taxable and tax-exempt future tax-secured subordinate bonds from the New York City Transitional Finance Authority.