Washington

By harmonizing its gift rule with FINRA's amended gift rule, the MSRB "aims for consistency in the application of MSRB and FINRA rules among dealers that are FINRA members," the MSRB's Ernesto Lanza said. 

The board also approved issuing a request for comment relating to disclosure documents for 529 plans and other municipal fund securities.

The department has hit its $30 billion limit on transportation private activity bonds and there's a large pipeline of public-private partnerships across the country.

The average muni bond trade size fell below $204,000 in the first quarter, down 5% from 2025, according to Municipal Securities Rulemaking Board data.

"The market is starting to feel a little bit on the heavy side," said Jamie Iselin, head of municipal fixed income at Neuberger Berman. "The Treasury market has been leaking higher as, I think, people are getting concerned that the conflict in the Middle East is going to [last] longer."

The Federal Railroad Administration is embracing a pro-business approach regarding emerging technology and funding rail crossing improvements.

"Clearly, issuers still need access to this very important financing tool," said State of Michigan Treasurer Rachael Eubanks, who also serves as this year's president of the National Association of State Treasurers.

Kevin Warsh's nomination to be the next chair of the Federal Reserve passed through the Senate Banking committee in a party-line vote.

The administration's effort to revitalize the maritime industry includes opportunities for public-private partnerships.

Muni advocates are watching Congress move towards a second reconciliation bill that may not require any provisions that pay for funding DHS, and the possibility of a third, tax-focused bill.