The Treasury Department said Thursday it will auction $25 billion 91-day bills and $23 billion 183-day discount bills Tuesday.
The 91s settle May 29 and are due Aug. 28 and the 183s settle May 29 and are due Nov. 27.
Currently, there are $25 billion 91-days outstanding and no 183s.
Munis are entering a negative feedback loop, according to J.P. Morgan analysts led by Peter DeGroot.
Credit ratings for California utilities could face downward pressure as recurring wildfire risks test safety funds and strain balance sheets.
"In a few years, Brightline may have to consider going through something like this again," warned one investor.
Bondholders and Assured Guaranty are providing substantial funding in post-petition and post-bankruptcy packages to keep the project operating.
GASB has issued updated questions and answers designed to clarify how subsidies relate to operating revenue, an important distinction affecting higher education, and transportation entities.
Ahead of a refinancing next week and a new money deal next month, Chicago's spreads have widened, suggesting the market may be pricing in a downgrade, analysts said.
