Washington

The 75 basis point hike, prompted partly by hotter-than-expected inflation data, is the largest since 1994.

The bill from Chuck Grassley and other Senate Republicans would extend the $10,000 cap on the state and local tax deduction for federal income tax filers.

The move to take back local control came a few months after new leadership took the helm at the airport.

The Securities and Exchange Commission has charged the City of Rochester, New York, its former finance director, former CFO and their municipal advisor with misleading investors in a $119 million bond offering.

Triple-A yield curves rose five to eight basis points. Volatility somewhat eased Tuesday as investors took pause ahead of the Federal Open Market Committee meeting.

Republicans contend the $1.9 trillion injection of cash sparked inflation while Democrats say it saved lives and a collapsing economy.

The Senate Finance Committee on Tuesday brought small business leaders together to discuss the pitfalls of complying with dozens if not hundreds of local tax regimes.

The departure comes amid Spanish reports that financing for what aims to be the nation's first bullet train is "in hibernation."

The 25-basis-point move to higher yields is the largest one-day change in triple-As since March 2020 when COVID began roiling markets. Munis could not ignore a continued selloff in UST led by inflation and recession concerns.

Ahead of the FOMC meeting, municipal issuers pull back. Investors will be greeted Monday $2.880 billion of new-issue supply.