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Chicago is "diligently preparing" to sell debt, now that the bond market has mostly recovered from April's turmoil, Chief Financial Officer Jill Jaworski said.

The Federal Open Market Committee will meet on June 17-18. While no rate cuts are expected at this point, things can change quickly. Lauren Saidel-Baker, economist at ITR Economics, provides her take on the meeting the new Summary of Economic Projections and Fed Chair Jerome Powell's press conference.

The bondholders and board faced off over the creditors' belief they they are due the administrative expense claim.

Municipals were cut up four basis points, depending on the curve, through noon.

The deal includes a mix of new money and refunding, with a small forward-delivery series, as the authority plows forward with capital plans.

Rep. Scott Fitzgerald said PROMESA indicated PREPA needed to regain access to capital markets and suggested a deal with bondholders would aid this.

Federal Reserve Gov. Michael Barr said tariffs could have an outsize impact on small businesses and hardships could outlive the trade policy debate.

Siebert Williams Shank & Co has been censured and fined $55,000 by the Financial Industry Regulatory Authority for rule violations including reporting inaccurate trade times for roughly 12,100 municipal securities transactions.

The Federal Reserve chair said there is "room for improvement" in how the central bank conveys economic uncertainties to markets and the public.

Chicago will host its annual investor conference on Thursday as Mayor Brandon Johnson's administration faces challenges including a $1.12 billion deficit.