Public finance

"The muni market selloff is primarily a result of Treasury movement, but the orderliness of it in terms of not getting any more volatility in munis than Treasuries is a direct result of people's ability to withstand those moves," said Jeff Timlin, managing partner and head of municipal bond investing at Sage Advisory.

The incoming Bond Buyer Hall of Famer says titles and board seats are "empty calories" unless they improve the municipal market, a philosophy that has shaped his work in regulation, banking, and mentorship.

This week marks the end of the "summer redemption season," said Pat Luby, head of municipal strategy at CreditSights, and the ensuing reduction in redemptions will lead to an increase in net supply.

Issuers will generally call bonds when doing so yields an economic benefit, most commonly by reducing future debt-service costs through refunding, said Kevin McGuigan.

State Sen. Scott Wiener reintroduced the bond measure, intended to counteract federal funding cuts to scientific research.

This week, issuance is estimated at $12.821 billion, with $9.301 billion of negotiated deals on tap and $3.519 billion of competitives, according to LSEG.

State governments want to limit the cost of healthcare. Issuers will be tested. But analysts say it's unlikely to drive hospitals to bankruptcy.

Fed Chair Kevin Warsh took a hawkish tone on inflation in his Jackson Hole speech, sparking a selloff in short-term UST yields.

With the Fed chair focusing on inflation, the markets have increased the odds of a September rate hike.

The revised bill removes provisions creating state-backed credit enhancement for affordable housing bonds, calling instead for a study of housing finance tools.

Moody's Ratings cited the increasing likelihood the federal government won't continue leasing the current Washington, D.C., headquarters for NASA.

California's fall issuance plans bring a big name into the market at a time when high muni issuance levels have withstood higher interest rates.

It's no surprise that munis are in a "holding pattern," Charles Schwab's Cooper Howard said, as investors are eager to hear Fed Chair Kevin Warsh's speech on Friday.

"Assured has signaled that it's willing to engage in this process not like a traditional insurer but rather more akin to a value-maximizing market participant," an analyst said.

Thursday's move marks another formal step back from a water supply crisis that has negatively impacted the city's bond ratings. 

The Texas city's property tax-backed debt offering will be sold competitively on Sept. 22, according to a draft preliminary official statement.

The move underscores a growing sense of urgency from Fortress Investment Group-backed Brightline to address its $5.5 billion of obligations.

Republican efforts on bonding in Louisiana and North Carolina mirror wider GOP-led state governments' efforts to expand power over localities.

Muni market participants are "asking a lot of questions" ahead of Fed Chair Kevin Warsh's speech at the Jackson Hole retreat, said James Pruskowski, managing director at Hennion & Walsh.

A proposed constitutional amendment allowing the legislature to determine how local revenue lost due to property tax exemptions is reimbursed was defeated.