Public finance

If the MSRB pursues a pre-trade transparency initiative—though its necessity is debatable given the private sector has already addressed this need—it should leverage existing tools and services used by market participants.

Lawmakers have until late this month to decide on a mix of cuts and taxes acceptable to the governor to close a $16 billion shortfall over the next two budgets.

"With the initial announcement proving to be more aggressive than expected, the market responded overwhelmingly negatively," said Principal Asset's Seema Shah.

As the market absorbs the effects of the tariff rollout industry analysts are predicting a heavy dose of uncertainty in several key sectors of the municipal bond market.

Tolling on the Belle Chasse Bridge is expected to start Tuesday.

At noon Thursday, muni yields had been bumped up to 12 basis points, depending on the curve, while UST yields rallied, with yields falling 13 basis points on the short-end.

Alpine School District, which will be split into three systems, wants to sell up to $238 million of lease revenue bonds to finance school construction.

Transportation Secretary Sean Duffy said there are about 3,200 announced projects that are awaiting formal grant funding agreements, 950 of which were announced right before President Donald Trump took office.

Parity Plus gives muni issuers increased transparency and resources to determine market demand prior to a bond sale.

Details surrounding the tariffs — which could be anything from reciprocal tariffs to finally implementing delayed tariffs on Canada and Mexico and on pharmaceuticals — have remained unclear, but uncertainty has plagued the market for weeks.