"Investors typically start positioning for heavy summer redemptions in summer, so the market typically performs well enough through the first half of June and we do not believe that this year will be any different," Barclays strategists said.
The state's expectation of a deficit in the coming biennium budget was cited in the outlook revision.
U.S. Attorney for the District of Columbia Jeanine Pirro said in a social media post Friday morning that the Justice Department is closing its investigation into Federal Reserve Chair Jerome Powell, clearing a path for Kevin Warsh to be confirmed as Powell's replacement.
"Retiring these terms eliminates unnecessary ambiguities associated with their use in MSRB rules," MSRB Board Vice Chair Wendell Gaertner said.
Researchers examined more than 580,000 municipal bond issues and say the data shows communities with higher wildfire risk pay higher interest rates.
It was another "topsy-turvy day" for munis, said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital. Munis have been weaker on the front end for a few days, leading to a slight inversion of the curve, starting around the 2028 maturities, Olsan said.
