Markets

"If the narrative takes hold that the Fed is behind the eight ball and will need to cut rates several times in the coming months to catch up to the realities of a weaker economy, we expect muni yields will drift lower alongside treasuries," Birch Creek strategists said.

The health network has struck up a partnership with the Dana-Farber Cancer Institute and is selling debt to finance the related infrastructure in Boston. 

Municipal yields fell four to seven basis points, depending on the curve, while UST yields rallied nine to 30 basis points, with the largest gains on the front end.

Moody's cited continued liquidity improvements in the ratings lift for the northern California clean energy aggregator.

Tax-exempt munis have underperformed year-to-date, said David Hammer, a managing director and portfolio manager at PIMCO.

Fitch said the train line's ridership and revenue ramp-up continue to lag projections.

The city has promised to contribute $625 million to the stadium project. The team, owned by billionaire Shahid Khan, is to come up with $625 million of its own.

The FOMC held rates steady at the conclusion of its meeting Wednesday and offered no hints regarding a September move.

The muni market has "cheapened and steepened," which is a great opportunity for people still on the sidelines to get into the market again, said Jennifer Johnston, director of municipal bonds research at Franklin Templeton.

School districts are facing many challenges, including less federal funding, increased competition, declining enrollment and inflating costs.