Markets

Fitch and S&P's affirmation of Milwaukee's double-A ratings comes after Moody's cut the city.

Municipal bonds were mixed in late trading on Tuesday as several large deals hit the screens, led by issuers in New York and Maryland.

The timing of federal grants is an issue because that funding was used as a basis by the U.S. Transportation Department to authorize the use of tax-exempt PABs by the private owner for financing the proposed rail line between Miami and Orlando.

Tuesday opened with a positive tone in the municipal bond market with a forecast of heavy demand and strong technicals going into the reinvestment season.

Texas service sector activity “continued to increase in April, albeit at a slower pace than last month.”

Kurt Forsgren, managing director of S&P, discusses climate change, ESG, infrastructure approaches — especially tolling — and trade policy and what each means for a municipality’s rating. John Hallacy hosts.

Construction spending fell dramatically by 1.7% in March, much lower than the expected 0.5% gain.

The overall economy grew for the 108th straight time, the Institute for Supply Management reported Tuesday.

The treasury secretary said such a bill could pass within two months.

Munis were stronger Monday as bond buyers kept an eye on the Federal Reserve policy makers' meeting.