City of New York, NY

Supply is slightly lower this week at nearly $10 billion but not by much, with the pace of supply suggesting $500 billion of issuance for the year could still happen, said Tripp Kaiser, a managing director at Municipal Market Analytics, Inc.

City Comptroller Brad Lander said he's optimistic about the deal, congestion pricing lawsuits and his mayoral campaign.

Mayor Eric Adams was indicted on federal bribery, campaign finance and conspiracy charges, the U.S. Attorney's Office announced Thursday.

All eyes are on Jackson Hole and Fed Chairman Jerome Powell's speech this week, noted Cooper Howard, a fixed-income strategist at Charles Schwab.

"Investor reception will remain the ultimate arbiter of muni performance and … the current state of the tax-exempt space to be well-positioned, even though munis are likely to continue to underperform USTs," said Jeff Lipton, a research analyst and market strategist.

At $1.8 billion, the tax-exempt and taxable deal is the largest on the calendar this week and it's the latest offering from the city since a $1.2 billion refunding issuance in July. 

The Palisades Tunnel project and phase two of the Hudson River Ground Stabilization project will officially begin later this year.

The city's pensions funds for police officers, fire fighters, teachers, civil employees and school personnel, with a combined $274 billion in assets, returned 10% in the year through June, beating their 7% target, according to a news release Thursday from city Comptroller Brad Lander.

Yields may move lower after the Federal Reserve "communicates its goals to ease policy in coming meetings," said Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.

The city will return to the market two weeks after closing its Transitional Finance Authority's biggest-ever deal.