Public finance

"Munis are no longer moving on headlines; they're reacting to rates and supply," which is playing out again Monday after a choppy March and April, said James Pruskowski, chief investment officer at 16Rock Asset Management.

The Federal Open Market Committee will meet on June 17-18. While no rate cuts are expected at this point, things can change quickly. Lauren Saidel-Baker, economist at ITR Economics, provides her take on the meeting the new Summary of Economic Projections and Fed Chair Jerome Powell's press conference.

The bondholders and board faced off over the creditors' belief they they are due the administrative expense claim.

The macroeconomic boost from U.S.-China's 90-day pause on tariffs is partial and could prove temporary, S&P Global Ratings analysts said.

Municipals were cut up four basis points, depending on the curve, through noon.

Pops, a managing director at cfX, a municipal advisory firm serving housing finance agencies, brought passion and institutional knowledge to the sector.

The deal includes a mix of new money and refunding, with a small forward-delivery series, as the authority plows forward with capital plans.

Rising debt and interest payment ratios over more than a decade, to levels higher than other nations', prompted the downgrade, Moody's said.

Issuance for the week of May 19 is estimated at $11.667 billion.

Lawmakers have $755 million less to spend and only six more weeks to work on the two-year budget.