Markets

Cities with voter requirements face higher borrowing costs, a study found.

"This is very good news for bankers because this value is portable," said study author Natasha Boreyko.

Tariff threats, international conflicts and inflation concerns are working "in tandem on the municipal side to slow down some of the aggressive interest that was there in the beginning of summer," Sage Advisory's Jeff Timlin said.

Private Milliken University in Illinois is sweetening its upcoming bond deal by adding a student apartment complex to increase investor protections. 

The U.S. Department of Housing and Urban Development is suspending between $1 billion and $2 billion of aid approved.

The Texas city's $943.9 million airport revenue bond issue will provide long-term financing for an expansion plan and refund some outstanding debt.

Geopolitical uncertainty will keep being a challenge for risk assets, according to James Pruskowski, managing director at Hennion & Walsh. But the muni market will still benefit from strong supply and demand.

Issuance is an estimated $10.567 billion this week, with $8.948 billion of negotiated deals on tap and $1.62 billion of competitives, according to LSEG.

The deal funds the municipalization of a private water utility that had been controlled by investor-owned utility Eversource.

USTs ended the week looking strong after a positive CPI report, MMA's Kevin McGuigan said, while munis finally seem to have corrected from their "extremely rich" ratios.