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The legislation, co-sponsored by six other Republicans, would apply federal lobbying and vacancy rules to regional Federal Reserve banks and close seven of the 12 existing banks.

"A fade in muni prices came on the heels of sovereign debt actions, leaving ratios subject to some correction with just a few sessions remaining in 2022," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

Attacks pose acute financial threats and longer term reputational and legal risks, analysts said.

"I'm thrilled to have that opportunity to join the team," Patrick McCoy says. "It's a very important project with regional implications. To be part of that team is going to be very exciting."

Arizona's second-largest city reported general fund surpluses in recent years, easing structural budget balance concerns that weighed on its ratings, Fitch said.

The state's benchmark debt ratio for debt service to revenue is at 3.78% — well below a 6% target and 7% limit.

Mild economic conditions resulted in slight changes to upgrades and downgrades in the third quarter, compared to the second quarter, S&P said.

Daily report for December 21, 2022

Secondary selling pressure was concentrated most heavily on the one-year Tuesday, but sellers pushed yields higher across the curve by five to seven. Bids wanteds were on the rise again with Monday's total hitting $2.122 billion.

Branding experts argue against ditching ESG. Instead, they say, the finance industry needs to better explain what ESG is.

Nebraska's largest city plans to finance the downtown streetcar project with a mix of tax increment financing and lease purchase revenue bonds.

Brandon Comer said the SEC's case alleging breach of fiduciary duty against him lacks evidence, but a federal judge refused to end the case.

It is not clear whether FOMC members truly believe their higher inflation and interest rate forecasts, or if they are being overly hawkish to prevent further market exuberance.

Daily report for December 20, 2022

S&P Global Ratings raised the state flagship university's rating to AA-minus from A-plus.

"Yield levels are now notably higher throughout many sectors of the yield curve by a number of percentage points," said Morgan Stanley strategists Matthew Gastall and Daryl Helsing.

Nikolai Sklaroff replaces San Diego's Lakshmi Kommi on the California Debt and Investment Advisory Commission.

Moody's dropped Sparrow Health's rating a notch as it's not yet factoring in the financial and operational benefits of its acquisition by UM Health, which won't extent to a debt guarantee.

Bondholders say the Oversight Board's offer is less than it was a few weeks earlier.

The highly-rated city wants to pursue general obligation bond programs every five years to fund capital projects for its growing population.