Organization Root Tag

The Senate Banking Committee voted 13-11 to favorably recommend Stephen Miran's nomination for the Federal Reserve Board to the full Senate.

A mix of broader market dynamics and Chicago-specific pressures is driving the widening spreads, investors said.

Chicago Public Schools plans to return to market with $650 million of Series 2025A unlimited tax general obligation bonds.

Analysts credited governance improvements Connecticut put in place in 2018, which have reduced the state's liabilities and improved its reserves. 

Monday's rally is a "continuation of what we are seeing," as the market is actively repositioning where it needs to go, said Alice Cheng, director of municipal credit and investor strategy at Janney.

Muni yields were bumped two to 12 basis points, depending on the scale, with the largest gains out long, and UST yields fell six to nine basis points, pushing the two-year UST to its lowest levels in over two years.

The rally stemmed from the weak nonfarm payrolls report and revisions brought down the three-month average to 29,000 jobs per month, further solidifying the chance of a rate cut in September, said Chris Brigati, managing director and CIO at SWBC.

The Civic Federation and the Federal Reserve Bank of Chicago co-hosted an event on Wednesday titled "Taxing Times, Smarter Strategies."

Differences between the Senate and House versions of the bill, which targeted cities and counties, could not be resolved.

Stephen Miran will take unpaid leave from and might seek to return to President Trump's Council of Economic Advisers, he said, raising conflict of interest questions in his nomination hearing for a seat on the Federal Reserve Board.