Washington

"Investors are acknowledging that the Fed is nearing the end of its rate tightening cycle which is supporting a relief rally in stocks and lower bond yields, said Bryce Doty, senior vice president at Sit Investment Associates.

Federal Reserve officials quietly tightened internal restrictions on employees' political activities after several reserve banks ran afoul of Congress over real or perceived engagement on issues within the domain of elected officials.

The MSRB is proposing to allow previously qualified muni advisors, who have been out of the profession for two or more years, a one-time exemption from having to requalify by examination.

Analysts opine on the Federal Open Market Committee meeting, how high interest rates will go and when the first cut may happen.

The MSRB took no concrete actions at its meeting that ended last week, but discussed initiatives important to market participants.

Treasury Secretary Janet Yellen said the only solution to avoid a U.S. default crisis is for Congress to increase the federal debt limit, avoiding engaging with other proposed stopgap measures including short-term extensions or spending cuts.

Kelly has twice introduced legislation to broaden private activity bonds.

A number of states are taking aim at tax reductions, though some experts view the move as misguided policy.

A group of top local government associations have formed a new legal coalition aimed at Supreme Court cases that carry municipal implications.

The three firms were ordered to pay $515,000 in restitution, but were spared any additional financial penalty.