Public finance

Economists see the Fed ending quantitative tightening soon, but don't agree exactly when.

Issuance is light this week, with $5.367 billion on tap, and it should be "easily distributed," J.P. Morgan strategists said.

The government shutdown is wreaking more havoc as air traffic controllers will miss a paycheck this week and federal payments to states for housing bonds and Grant Anticipation Revenue Vehicle bonds may stop flowing.

The city comptroller says Buffalo's finances are in dire shape, and is fighting in court not to issue debt authorized by the mayor and city council.

The utility responded that it is not eligible to declare bankruptcy.

"Investors were not disappointed," said John Kerschner, global head of securitized products and portfolio manager at Janus Henderson. "Inflation came in softer than expected, leading to a tepid bond market rally" and ensuring a rate cut at the upcoming Federal Open Market Committee meeting.

The northern California school district has been struggling for years and on several occasions abandoned plans to consolidate schools, which rating agencies say might have shored up finances.

Mayor Brandon Johnson released to City Council a report from accounting firm Ernst & Young with recommendations for closing the city's structural budget gap.

The city council president is concerned about state bond commission approval.

The upgrade is driven by realized and expected improvement in the state's financial metrics, the rating agency said.