Markets

With another fed funds rate cut in the books, munis saw a big drop in yields to close out the week and the month.

The volume boom accelerated in October, with taxables accounting for about a quarter of the supply.

Competitive pricing and speed convinced the owners of the Carlsbad, California, plant to use a taxable bank loan instead of tax-exempt debt.

Analysts are skeptical of Fed Chair Jerome Powell's signal that policy makers will keep rates at a range of 1.50% to 1.75%.

As is the case with the muni market, corporates remain strong. Owning higher-quality has been a theme. Our guest Matt Brill, head of U.S. investment grade credit at Invesco, warns that: "winter is coming" and to prepare while times are good. John Hallacy hosts.

Trade and geopolitical disruption will likely consume much of the policy narrative the rest of this week.

As expected, the Federal Open Market Committee cut the fed funds rate target 25 basis points to a range of 1.50% to 1.75%.

Dealer groups believe that some sections of the proposed amended guidance such as complex financing and disclosure standards would add complexity to the rule.

Tuesday saw bond sales come and go, the day before the Fed is expected to cut interest rates.

Consumer confidence remained high even after a dip this month, and a rate cut by the Federal Reserve could send it higher.