Markets

The upshot of the report by Payden & Rygel's Travis McGahey is that the risk of severe credit deterioration and bond defaults remains low.

This week the market has performed "exceedingly well" with the tailwind of June 1 reinvestment capital, said J.P. Morgan strategists led by Peter DeGroot.

The utility expects the bonds to have an all-in true interest cost of 4.91%.

There is still a lot of chaos and uncertainty out there, said Jennifer Johnston, director of municipal bond research at Franklin Templeton.

The Metropolitan Washington Airports Authority is pricing $714.4 million worth of airport system revenue and refunding bonds on Thursday as part of a scheduled sale with an uncertain demand.

"We're going to get a lot of price discovery with the big deals, a large number of deals, and then a lot of cash to put to work," said Whitney Fitts of Appleton Partners.

The longtime muni bond strategist left Wells Fargo earlier this year.

The twin Transportation Corridor Agencies issuers in Orange County, California, received Fitch Ratings upgrades for fiscal prudence and bond buydowns.

The Delta Center hockey and basketball venue will be renovated with proceeds from the $900 million Downtown Revitalization Public Infrastructure District deal.

Issuance this week soars to nearly $17 billion, and investors are "bracing for another hefty serving the following week," said Birch Creek strategists.