Markets

Many muni participants stayed on the sidelines to start last week due to "the sudden about-face in the Treasury market and uncertainty over how long-lasting the incursion would be," Birch Creek strategists said.

The latest research from The Bond Buyer predicts supply and issuance volume will grow in the months ahead.

"We are still not overly concerned about the effect of the geopolitical concerns on municipals — in our view, the muni market is well insulated," said Barclays strategists.

Brightline asked S&P to withdraw its rating after the latest downgrade.

Jeffrey Puzzullo is the fourth person to plead guilty in the now-notorious Legacy Cares case.

Ratings analysts have thrown out warning flags about California schools, but a buyside analyst says they are a good investment.

Market technicals should weaken this month in line with seasonal expectations, with estimated redemption capital of $32 billion compared to estimated supply of $41 billion, said Appleton Partners strategists.

Market Intelligence analyst Jeff Lipton distills what he heard onstage and in the hallways at The Bond Buyer's 2026 National Outlook, from policy uncertainty and the muni tax exemption to AI's growing role and credit risk hotspots.

With USTs stable and the "snoozer" of economic data Wednesday morning, the muni market has settled, with muni yields little, said Jeff MacDonald, EVP and head of fixed income strategies at Fiduciary Trust International.

Los Angeles' weakening fiscal picture and the city utility's exposure to lawsuit liability from the 2025 Palisades fire were cited for the downgrades.