Washington

States and local governments should prepare for fewer federal funds, higher borrowing costs and market volatility as a result of turmoil in Washington.

Public gas utilities are supportive, but not optimistic.

Jerry Ford returns to fill the slot left open by Jill Jaworski.

The clarifications are predicted to boost bond issuance .

Munis did not follow USTs yet, "but given the outperformance of munis over the last couple days and while I wouldn't be surprised if they weaken a little given how expensive ratios are," said Breckinridge's Matt Buscone.

Adjusting the deduction cap for state and local taxes is not included in latest proposals, though advocates for that measure remain hopeful.

The refusal to hear Ohio's case is the second time this year the Court has declined to take up challenges to ARPA.

The bondholders charge bad faith in negotiations and want no plan employed until all appeals are exhausted.

While "munis are set up for better performance, perhaps modest single-digit returns, the near-term outlook for fund flows will make for a challenging read," Oppenheimer's Jeff Lipton said.

Analysts agree with the market that the Federal Open Market Committee will hold rates in a range of 5% to 5.25%, but guidance will suggest a future hike.