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Supply is expected to increase in the coming weeks, and there may be more rate-direction volatility, said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

U.S. District Judge Laura Taylor Swain said she would consider the motion during a scheduled May 22 bankruptcy hearing.

Policymakers appear to be concerned about the possibility of cutting interest rates too soon, according to minutes of the Federal Open Market Committee's Jan. 30-31 meeting, released Wednesday.

"With the new economic data signaling a delay of the Fed starting rate cuts to further into the year, we should continue to see yields rise until we get near to the Fed's target of a 2% 'neutral' rate for inflation," said Jason Wong, vice president of municipals at AmeriVet Securities.

The board has initiated a review of the annual rate card process.

According to FINRA, the banking giant failed to close out 239 inter-dealer transactions in a timely manner as well as failing to take possession of 247 short positions.

Comments submitted to the SEC on the MSRB's amendments to Rule G-14 note how important exceptions for manual trades and limited trading activity are in the move to a one-minute reporting standard.

Meanwhile in New York, the state doubles down on climate investments and restricts investments in some big oil and gas companies as the city blasts several big banks as they pull out from the Climate Action 100+ initiative.

This decision will accelerate foreign buyers' reduced presence in the muni market, said Vikram Rai, head of municipal markets strategy at Wells Fargo.

Fitch said its upgrade "reflects the removal of the asymmetric additional risk relating to potential general fund exposure to the county's enterprise sewer system … which reflects the system's recent restructuring of its outstanding debt."

The decision to add Early is a positive sign the Treasury understands the importance of the municipal market and having its own expertise it can call on.

The upcoming fiscal 2025 budget will take "some first steps" to address a structural gap of about $158 million, Melissa Dubowski said.

The consumer price index number further complicates market expectations of Fed rate cuts and muni investors may want "to keep their powder dry" until they have a better idea of the Fed's timing, said CreditSights' Pat Luby.

The MSRB requested information about the challenges facing small firms the firms have not held back in citing what they view as a difficult regulatory environment.

The value of the fund rose from the $246.3 billion reported in the second quarter while returns improved to 6.18% in the third quarter from negative 1.59% in the prior period.

The state faces slower job growth after gains in the previous three years outpaced the nation, according to the Dallas Federal Reserve's Texas economic outlook.

If the appeals court overrules parts of her decision, Judge Swain said she is "capable of adapting and reacting appropriately."

This volatility can be seen in the whipsawing figures from the SIFMA Municipal Swap Index Yield over the past few months, but in January in particular.

The Federal Reserve expects to cut interest rates three times this year, some say as early as March, if data alllow those moves. Following the Jan. 30-31 FOMC meeting, Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions, will provide his take on the meeting and Chair Jerome Powell's press conference.

A majority of those polled at The Bond Buyer's 2024 National Outlook Conference also felt issuance would increase moderately this year, to between $400 billion and $450 billion.