Markets

Municipals were mostly unchanged with a firm tone on Tuesday, according to market participants, ahead of the week's large new-issue calendar that's heavy on taxables.

The Kansas City Industrial Development Authority will price more than $600 million of bonds as the replacement of Kansas City International terminals advances.

The consumer price index has been rising for four months but at a slower pace, as the cost of food remains "elevated."

Annual debt service could spike to $4 billion by 2024, or up 55% since 2019, making up 24% of the agency's total revenues, Thomas DiNapoli said.

Munis too a breather Friday after a week where yields rose by as much as 10 basis points on long-dated maturities.

Upfront savings from the $371 million deal will improve liquidity for the authority after the coronavirus-caused traffic downturn.

The airport will sell $925 million in a deal structured to lower short-run debt-service outlays as it manages through the coronavirus-driven air travel decline.

The Puerto Rico Aqueduct and Sewer Authority said it might be refinancing its bond debt with a new bond issue by the end of the year.

Recent toll hikes will offset a coronavirus-inspired drop in traffic and a refunding portion gives the authority "financial flexibility," according to analysts.

Advance refunding, direct-pay bonds, and increased limits on bank-qualified bonds would be among the muni-friendly tax provisions that have a good chance of becoming law if Democrats control both chambers of Congress.