Washington

Immigration effects in municipalities are seen as pros and cons

"One big challenge is the amount of advocates that we've had in Congress that will be retiring or no longer running for re-election," said SIFMA's Leslie Norwood.

The MSRB's move to a one-minute reporting standard was questioned in a House hearing Tuesday in the context of regulation that could go too far.

New York Fed President John Williams said the Fed "will cut rates eventually" during a fireside chat at Milken Institute's Global conference on Monday.

The "historical runway" heading into Memorial Day is favorable, rolling into the summer redemption months of June through August, said James Pruskowski, chief investment officer at 16Rock Asset Management.

The Build America Bureau has $100 million in grants available over the next five years for public entities doing pre-development work to structure public private partnerships for transportation and transit-oriented development projects. 

The loan, which features a 2.5% interest rate, will finance nearly half of a community building in downtown Mount Vernon, Washington.

Proposed rulemaking on the FDTA is expected in June, but clarity on what exactly it means for the muni market is years down the line.

Munis posted losses in April, returning negative 1.24%. The asset class is also seeing losses of 1.62% year-to-date.

Sen. Joe Manchin, D-W.Va., has already pledged to try to overturn the rule in Congress.