Markets

Inflows return, stimulus set, new deals on fire — the municipal market reaped all the benefits. Initial jobless claims dropped more than expected in the week, as reopening continued slowly, but the total remains higher than any week before the COVID crisis hit.

S&P Global Ratings cut CPS Energy to AA-minus from AA, as it faces $1 billion in unbudgeted costs for buying expensive power through the state grid operator.

The Securities and Exchange Commission has increased its focus on climate change disclosure in the corporate market.

The Investment Company Institute reported outflows from municipal bond mutual funds but inflows into exchange-traded funds. The February consumer price index came in as expected, while the core was below expectations, and analysts expect bigger rises ahead.

Johnson, in his announcement to run, emphasized New York’s recovery from the COVID-19 pandemic through effective use of federal stimulus dollars.

S&P moved Illinois' outlook to stable from negative amid revenue numbers that beat pandemic-driven low expectations. The rating remains the lowest among states.

Munis were stronger across the curve as secondary trading was constructive and bellwether credits moved yields lower.

The creation of the Municipal Liquidity Facility helped not only eligible entities but also those left out of using the program.

Despite the recent outflows and volatility of the Treasury market, municipal bonds have and should continue to outperform as stimulus from Washington provides some respite.

The museum is borrowing through the tax-exempt market for the first time to finance is ongoing transformation plans.