Washington

Bond investors are understandably cautious in response to recent market volatility and ahead of what is expected to be a Fed rate hike Wednesday, participants say.

Half of the infrastructure funding is going to the states, and cities should talk to their governors to ensure they see some of that funding, White House Infrastructure Advisor Mitch Landrieu told the National League of Cities Tuesday.

As 2022 unfolds, a confluence of challenges has affected pricing, trading and fund flows in the muni market.

The market is being driven by the prospect of higher long-term inflation and the potential that the Federal Reserve may have to raise rates further than expected.

Supported by the American Rescue Plan Act, signed into law almost exactly a year ago, cities "have come roaring back," the President said.

Next month’s Easter holiday in the U.S. is poised to create cash-flow headaches for the Federal Reserve and investors in Treasury debt.

Democratic Sen. Joe Manchin said he won’t back President Joe Biden’s nominee for the Federal Reserve vice chair of supervision, Sarah Bloom Raskin — likely dooming her confirmation in the Senate given Republican opposition.

The IRS has entered into a closing agreement with the City of Alpharetta following its VCAP request stemming from the sale of a bond-financed conference center.

DASNY leads the calendar with $2.3 billion of exempt personal income tax bonds and $662.32 million of taxables. Potential volume is slated to be $5.11 billion, with $4.392 billion of negotiated deals and $718.1 million of competitive loans.

The legislation would allow tax-exempt financing for the replacement of privately owned lead service lines.