Washington

Despite Congress' already long to-do list, factions in the Senate and House are posturing for the possibility of a second reconciliation bill that offers possibilities and threats for the muni market.

Rep. Sam Graves, House Transportation and Infrastructure Committee Chairman and supporter of tax-exempt munis announced he will join several other Republican Congressmen by not seeking reelection in November.

The homeowners insurance market in the U.S. "faces mounting strain from severe climate risk," Benjamin Collier and the other authors said in their commentary.

Guessing what may happen as Congress pounds away on a surface transportation reauthorization bill has not rattled credit ratings so far, but a key deadline could slip.

"You would think global instability leads to flight for quality, but you also have the inflationary pressures that come with higher oil prices. I would say the inflationary pressures have been winning, and that's why you're seeing Treasury and muni rates move higher," said Keith Richard, head of public finance at Siebert Williams Shank.

The current lateral recruiting marketplace for public finance attorney talent is "highly competitive," according to Nixon Peabody's Julie Seymour.

The weakness in fixed-income markets comes after stocks and bonds saw strength Monday following President Donald Trump's announcement of a five-day pause on strikes on Iranian power plants amid talks between the two countries.

José Torres, senior economist at Interactive Brokers, breaks down the FOMC decision and Fed Chair Jerome Powell's press conference.

Federal Reserve Gov. Stephen Miran said it is too early to judge how U.S. involvement in the war with Iran will affect inflation and monetary policy.

While it's unclear how long the war in the Middle East will drag on, once President Donald Trump announces an end to the war, things could change "on a dime," as happened with the tariff-induced volatility in April 2025, said Peter Block, managing director of credit strategy at Ramirez.