Washington

"The knee-jerk reaction of the markets to the Fed meeting (and press conference) was to sell stocks and bonds, because [Fed] Chairman Jerome Powell said that an additional rate cut in December wasn't a sure thing," said Northlight Asset Management Chief Investment Officer Chris Zaccarelli.

The MSRB plans to issue the request for comment regarding MSRB Rule D-15 "within the next week or so."

The softer-than-expected September consumer price index report, released Friday, reinforced confidence in the likelihood of a Fed rate cut at its October meeting and potentially at its December meeting, said Tom Kozlik, managing director and head of public policy and municipal strategy at HilltopSecurities.

The Trump administration has denied an appeal for $33.7 million in FEMA relief funds for flood damage incurred in western Maryland, which ends the possibility of aid for a state already reeling from job losses.

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

"BDA supports the proposal and we encourage the commission to approve it," its letter 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.

"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.

"Over the next fiscal year, I look forward to collaborating with MSRB Board members from across our industry, and the nation," Board Chair Natasha Holiday said.