Washington

Analysts had mixed reactions on what could have caused the decline, pointing to some municipalities closing out their fiscal years at the end of June.

Economic activity in parts of the U.S. is showing signs of leveling off amid a resurgence in coronavirus cases, according to Federal Reserve Bank of Atlanta President Raphael Bostic.

The online NGA meeting is the latest in a string of conferences that have been moved to the web this year because of the COVID-19 pandemic.

Jay Clayton's recent testimony to federal lawmakers was "troubling," the dealer group said in a letter to the SEC chairman.

Sen. Chuck Grassley, R-Iowa., said the future needs of issuers are uncertain.

The minutes from the Federal Open Market Committee's June meeting were released on Wednesday and there was much discussion about yield curve control.

The House is expected to pass a $1.5 trillion dollar infrastructure package, mostly along party lines, while a bipartisan Senate bill to restore advance refunding may build momentum in that chamber.

Two Federal Reserve presidents said the central bank is committed to fighting racism as an economic issue.

Fed Chair Jerome Powell told House Financial Services Committee Chairwoman Maxine Waters that the Fed was looking at ways to adjust the Municipal Liquidity Facility to make some additional issuers eligible.

With interest rates expected to stay near zero for the foreseeable future, the market expects the Fed to implement yield curve control.