Markets

Wednesday saw the third consecutive day of falling muni yields, suggesting the market is recovering from last week's selloff. The market is well-positioned for "a strong snapback," according to James Pruskowski, managing director at Hennion & Walsh Asset Management.

Moody's assigned its first-ever rating to munis backed by bitcoin ahead of a deal in New Hampshire. 

Issuance was $50.081 billion in 697 issues, up 17.3% year-over-year from $42.709 billion across 726 transactions.

Moody's Ratings upgraded Alum Rock Union Elementary School District on proactive management actions in the face of enrollment and fiscal challenges.

The filing of a writ of mandamus with the state Supreme Court, comes a day after S&P revised its outlook on Otero County to negative.

Many investors are waiting to see if the pattern of falling yields continues, according to Chris Brigati, managing director and CIO at SWBC.

The new hires come as nationwide infrastructure needs keep growing and as several firms have left or scaled back their muni efforts.

The tax could result in an increase in demand for the state's municipal bonds.

This strength comes after another "challenging week" for the muni market, which continued to deal with ongoing macroeconomic uncertainty and somewhat heavy supply, said Daryl Clements, a muni portfolio manager at AllianceBernstein.

Bernardi Securities founder Edward Bernardi passed away peacefully on March 21 in his Lake Forest, Illinois, home. He was 95.