Washington

In a move cheered by public power companies, the House passed a bill that would give the Federal Energy Regulatory Commission authority to keep power plants open if their closure threatens reliability.

The larger story could be that some of the larger issuers are asking water lobbyists and lawmakers to push the EPA because of worries the administration may tamper with or even eliminate the program, said a WIFIA expert.

Muni yields were bumped a basis point, while UST yields fell two to four basis points.

The House Finance Committee is making good on a promise to address housing affordability by advancing a bill that increases the public welfare investment cap to 20% from 15%.

Federal Reserve Gov. Christopher Waller said monetary policy must remain insulated from political pressure, arguing that communication with the White House should be limited. Waller is slated to meet with President Trump Wednesday afternoon.

Inflation reports may drive markets in 2026 since the labor market is "sending mixed messages," said Kevin O'Neil, associate portfolio manager and senior research analyst at Brandywine Global.

"We are excited to welcome these eight outstanding lawyers to our partnership," Bracewell Managing Partner Gregory M. Bopp said.

Democratic Sens. Chris Van Hollen from Maryland and John Fetterman from Pennsylvania are reintroducing a bill to aid the public transit sector, a funding reduction target under Trump's administration.

It is one of several P3-related recommendations the board made to Transportation Secretary Sean Duffy.

Federal Reserve Gov. Stephen Miran said higher goods prices could be the trade-off for bolstering national security and addressing geo-economic risks.