Market Intelligence analyst Jeff Lipton says muni investors should treat July as a reset, not a retreat, with positive flows, compelling taxable-equivalent yields and selective repricing supporting modest single-digit returns by yearend.

President Donald Trump's administration has reportedly sent a letter to Federal Reserve Gov. Lisa Cook detailing his reasons for finding cause to remove her from office after the Supreme Court ruled in her favor earlier this summer.

Near-term expectations for price growth fell in the latest consumer sentiment survey from the Federal Reserve Bank of New York, but remains above the central bank's target across all time horizons.

The Federal Reserve governor said inflation is too high but said she ultimately voted last week to hold interest rates steady to give recent economic trends more time to play out.

Market Intelligence analyst Jeff Lipton says overreliance on financial ratios can obscure forward-looking credit risks, making qualitative factors such as political willingness, management strategy, cyber-threat preparedness, legal security and economic and policy change essential to muni decision-making.