Data released last week show continued solid performance from the strongest States, but perhaps more importantly, signs of strength in some of the weakest States.
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Muni yields were cut eight to 13 basis points, depending on the curve, while UST yields rose two to six basis points, pushing the two-, three-, five-, seven- and 10-year USTs to yearly highs.
Congress should also eliminate the mass transit account from the Highway Trust Fund, and consolidate all federal fuel tax revenues into the HTF, the USDOT proposed.
S&P said its earlier rating had its origin in an incorrect methodology.
The rules governing the cap on state and local tax deductions have been changed in each Trump administration and greatly debated in the muni community as new research shows the cap may have boosted inflows into bonds.
Oil prices topped $100 a barrel Thursday morning as the U.S.-Iran conflict continues with no resolution in sight.
Tender activity has risen between 2019 and 2024, with muni issuers executing more than $48 billion, according to the Government Finance Officers Association.
