Washington

An election year for Congress adds a deadline clock to questions about budget reconciliation, tax policy, and politics while bond issuers ponder challenges and opportunities.

Monetary policy remains the key to the markets. The Federal Open Market Committee predicts one rate cut in 2026, but the panel will get a lot of data before

The approved rates will go into effect on Jan. 1.

 In 2024, legalization states collectively generated a record-setting $4.4 billion in cannabis tax revenue from adult-use sales.

In a move cheered by public power companies, the House passed a bill that would give the Federal Energy Regulatory Commission authority to keep power plants open if their closure threatens reliability.

The larger story could be that some of the larger issuers are asking water lobbyists and lawmakers to push the EPA because of worries the administration may tamper with or even eliminate the program, said a WIFIA expert.

Muni yields were bumped a basis point, while UST yields fell two to four basis points.

The House Finance Committee is making good on a promise to address housing affordability by advancing a bill that increases the public welfare investment cap to 20% from 15%.

Federal Reserve Gov. Christopher Waller said monetary policy must remain insulated from political pressure, arguing that communication with the White House should be limited. Waller is slated to meet with President Trump Wednesday afternoon.

Inflation reports may drive markets in 2026 since the labor market is "sending mixed messages," said Kevin O'Neil, associate portfolio manager and senior research analyst at Brandywine Global.