Markets

The incoming Bond Buyer Hall of Famer says titles and board seats are "empty calories" unless they improve the municipal market, a philosophy that has shaped his work in regulation, banking, and mentorship.

Markets are still pricing in an increase in the federal funds rate later this month, but Federal Reserve Gov. Michael Barr said his vote will depend on incoming unemployment and inflation data.

This week marks the end of the "summer redemption season," said Pat Luby, head of municipal strategy at CreditSights, and the ensuing reduction in redemptions will lead to an increase in net supply.

Issuers will generally call bonds when doing so yields an economic benefit, most commonly by reducing future debt-service costs through refunding, said Kevin McGuigan.

This week, issuance is estimated at $12.821 billion, with $9.301 billion of negotiated deals on tap and $3.519 billion of competitives, according to LSEG.

Fed Chair Kevin Warsh took a hawkish tone on inflation in his Jackson Hole speech, sparking a selloff in short-term UST yields.

The administration is seeking industry feedback on funding mechanisms and the use of public-private partnerships in spaceport development.

Moody's Ratings cited the increasing likelihood the federal government won't continue leasing the current Washington, D.C., headquarters for NASA.

California's fall issuance plans bring a big name into the market at a time when high muni issuance levels have withstood higher interest rates.

It's no surprise that munis are in a "holding pattern," Charles Schwab's Cooper Howard said, as investors are eager to hear Fed Chair Kevin Warsh's speech on Friday.