Primary bond market

"Nothing could delay a restructuring or a consensual deal [more] than the existing board was doing," said Assured Guaranty CEO Dominic Frederico of the Trump administration's removal of Puerto Rico oversight board members.

Hospital acquisitions, expansions and the anticipation of federal policy changes has increased bond issuance from the California Health Facilities Financing Authority.

While UST yields "consolidate" following Friday's massive rally after the July jobs report, muni yields remain resilient, according to Kim Olsan, senior fixed income portfolio manager at NewSquare Capital.

The municipal bond market is "doing pretty good for the moment," said Jeff Timlin, a managing partner at Sage Advisory.

Over the past three trading sessions, MMD yields have been bumped nine to 12 basis points, while UST yields have fallen over 20 basis points on the front of the curve.

"If the narrative takes hold that the Fed is behind the eight ball and will need to cut rates several times in the coming months to catch up to the realities of a weaker economy, we expect muni yields will drift lower alongside treasuries," Birch Creek strategists said.

The health network has struck up a partnership with the Dana-Farber Cancer Institute and is selling debt to finance the related infrastructure in Boston. 

Municipal yields fell four to seven basis points, depending on the curve, while UST yields rallied nine to 30 basis points, with the largest gains on the front end.

Moody's cited continued liquidity improvements in the ratings lift for the northern California clean energy aggregator.

Tax-exempt munis have underperformed year-to-date, said David Hammer, a managing director and portfolio manager at PIMCO.

The city has promised to contribute $625 million to the stadium project. The team, owned by billionaire Shahid Khan, is to come up with $625 million of its own.

The FOMC held rates steady at the conclusion of its meeting Wednesday and offered no hints regarding a September move.

The muni market has "cheapened and steepened," which is a great opportunity for people still on the sidelines to get into the market again, said Jennifer Johnston, director of municipal bonds research at Franklin Templeton.

An investor presentation highlights industry conferences and consulting services that "have made the CIA the 'think tank' of the food service industry."

The asset class got a "much-needed boost" from inflows into muni mutual funds last week, said Birch Creek strategists.

Issuance for the week of July 28 is estimated at $11.035 billion, with $9.018 billion of negotiated deals and $2.017 billion of competitive deals on tap, according to LSEG.

The top five featured in the ranking handled deals totalling more than $84 billion in par value.

The airport, also selling $412.8 million of new money, will join a bevy of issuers who have deployed a tender offer in the hope of realizing refunding savings.

Investors added $571.5 million from municipal bond mutual funds in the week ended Wednesday, following $224.6 million of outflows the prior week, according to LSEG Lipper data.

Longer-term munis have become more attractive, said Cooper Howard, a fixed income strategist at Charles Schwab.