Public finance

The Investment Company Institute reported larger outflows for the week ending April 9 of $3.714 billion, following $1.15 billion of outflows the previous week.

The MSRB's rate card RFI and municipal fund securities will be among agenda topics at next week's quarterly board meeting.

S&P Global Ratings cited longer-term concerns on Palisades wildfire-related liabilities in shifting its CreditWatch on Los Angeles Department of Water and Power to a negative outlook.

Citi's exit may have aggravated illiquidity last week, but even the traditional leader in times of stress wouldn't have been able to calm the wild market moves.

Mayor John Whitmire said phased-in funding under an agreement with plaintiffs who successfully sued the city will help address a budget shortfall.

If the muni market "stays here at these new relationships, we'll find its footing," said John Flahive, head of fixed income at BNY Wealth.

"Settlor's remorse" is no justification for upsetting a settled order, SEC says.

Jason Appleson of PGIM Fixed Income chats with Caitlin Devitt to break down the biggest factors shaping the muni market today, and how institutional investors are preparing for what's next.

The firmness in the market Monday came from a "settling down" after one of its most volatile weeks since the pandemic, said Cooper Howard of Charles Schwab.

States could face some difficult times ahead, experts say.