Markets

Municipal fund managers are betting on lower credit quality paper and lower coupon bonds as they take advantage of the swell in supply.

Mayor Lori Lightfoot's first budget cleared the City Council on a 39-11 vote.

He will join Shawn Wooden's staff in Dec. 16 and brings 25 years of financial and management experience in the public and private sectors.

All of the week's muni issuance hit Tuesday, as Thanksgiving will mute action for the next three days.

The Metropolitan Pier and Exposition Authority, restored to investment grade by S&P Global Ratings last year, plans to sell a total of $923 million.

Each state would be guaranteed $25 million in bonding authority each year, with an additional $1.25 billion in authority allocated among the states according to rural population.

Federal Reserve Board Gov. Lael Brainard presented her alternative to quantitative asset purchases.

Preston Hollow is fighting Nuveen's attempt to reopen a trial record in the private lender's lawsuit accusing the investment powerhouse of anti-competitive tactics.

Citigroup got set to price the $632 million Main Street Natural Gas deal, while Goldman Sachs prepped $315 million of Emerald Renewable Diesel bonds.

Analysts are not convinced the Fed's mid-cycle adjustment will deliver the elusive soft landing.