Markets

Price guidance was issued on California's $2.4 billion GO deal as the State of New York Mortgage Agency got ready for its first social bond issue as the ESG muni market expands.

The California Housing Finance Agency made its first use of a program that enables it to issue bonds beyond its yearly private activity bond cap.

Municipal bond volume kept rolling in August, producing the second-highest volume for the month in the past decade, marking the third consecutive month this year of greater-than $40 billion.

The refinancings will ease near-term debt service pressures as pledged tax revenue tumbles and convention center business remains halted with uncertain near-term prospects.

Rep. Richard Neal was the lead architect of the muni-friendly provisions in the Moving Forward Act which passed the House in July.

The pace of recovery will not only be fragmented, but will take a lot longer than originally thought, according to Raphael Bostic, Federal Reserve Bank of Atlanta president.

In taking advantage of historically low taxable municipal bond rates, Florida's deal should be attractive for yield-starved investors, state official says.

Municipals were weaker on Friday, with yields on the long end finishing out the day up one basis point. Since Aug. 12, when the muni market correction began and yields moved off record low levels, the yield on 10-year muni has risen by 23 basis points while the 30-year yield is up 29 basis points, according to Refinitiv MMD.

Federal Reserve Board Chair Jerome Powell announced the group's new policy framework, but didn't explain why it would work.

Firefighters are waging battle against an estimated 7,000 fires of varying sizes throughout the state; nearly 1.5 million acres have burned.