Markets

To little surprise, the Federal Reserve left interest rates unchanged. Refinitiv Lipper reported tax-exempt muni bond funds lost about $954 million.

TMI Trust agreed to a settlement that allows bondholders to be paid interest during the Chapter 11 case of the Roman Catholic Archdiocese of New Orleans.

Gov. J.B. Pritzker says preservation of the investment-grade status is "very important;" Illinois bonds traded wider after the income tax referendum failed.

Top-rated muni yields fell by as much as 10 basis points on the AAA curves on Wednesday the largest move better for the market since late April, early May. ICI reported $1.2B of muni bond fund inflows.

Both the ADP employment report and the ISM services PMI came in below estimates, suggesting weakness in the recovery.

Their wins brighten the future of municipal bond-friendly initiatives in Congress.

The public finance industry would gain from the reinstatement of tax-exempt advance refunding and other muni-friendly measures under a Democratic sweep of the White House and both chambers of Congress.

Mark Nitcholas will will focus on local and state governments, state agencies and school districts within Texas and the Southwest.

The only major deal slated on the calendar, the Maine Turnpike Authority, came to market on Tuesday.

The economy will bounce back and stimulus will be provided no matter who is in charge, R.J. Gallo says.