Secondary bond market

Trade and geopolitical disruption will likely consume much of the policy narrative the rest of this week.

Tuesday saw bond sales come and go, the day before the Fed is expected to cut interest rates.

The deal led a rare burst of issuance for a Monday, with the start of the Federal Open Market Committee meeting set for Tuesday.

With interest rates likely to fall lower after Fed policy makers meet, already favorable market conditions for municipal issuers will get even better.

The issuance keeps pouring into the municipal market as muni fundamentals and interest rates drive demand.

Lori Lightfoot would close an $838 million gap with a mix of permanent and one-time maneuvers including new taxes, spending cuts and debt restructuring.

The new wave of bond issuance continued unabated as more sales priced on Wednesday.

llinois paper is looking more attractive when held up to Chicago city and Chicago Public Schools bonds, Citi analysts write.

Massachusetts also came to market with a $1.4 billion sale of revenue anticipation notes in three offerings.

There's something for everyone on this week's primary calendar.