Markets

The University of Arizona, which was hit with negative rating outlooks earlier this year, scheduled a debt refunding led by Morgan Stanley for Wednesday.

The rating is a new milestone in the state's long road out of legislative dysfunction.

City Comptroller Brad Lander said he's optimistic about the deal, congestion pricing lawsuits and his mayoral campaign.

Muni yields were cut up two to five basis points, depending on the curve, while UST yields rose five to seven basis points, pushing the 10-year UST yields above 4%.

Cleveland returns to market Wednesday in the first of two bond deals this month. That $64.4 million GO deal funds public parks, bridges and road improvements.

Congress has created recovery bonds for specific disasters in the past, and the CDFA wants the tool to become a permanent private activity bond category.

Municipal investors can expect just shy of $10 billion of new issues from which to choose the first full week of October and the fourth quarter, led by a $1.5 billion taxable general obligation bond offering from New York City. Connecticut is bringing $935 million of general obligation bonds.

Enright's passion for infrastructure and complicated deals led him to the cutting edge of municipal financing strategies.

Fears of a Hawaiian Electric bankruptcy abated after a settlement was announced that would cap the utility's liability for the Maui wildfire under $2 billion.

Municipal bond mutual funds saw inflows of $1.879 billion in the latest week, marking the 14th consecutive week of inflows and the highest level of 2024, per LSEG data, reiterating the strong investor support for this market.