Washington

With nearly $9 billion in volume, thanks to a large refunding deal, market participants expect issuance will remain strong as issuers try to beat tax reform.

William C. Dudley, Federal Reserve Bank of New York president and chief executive officer, intends to retire in mid-2018 “to ensure that a successor is in place well before the end of his term,” the Fed said in a statement Monday.

Federal Reserve Bank of New York President William Dudley is close to announcing his retirement, according to CNBC.

Already facing the potential loss of several key financing tools and a 20% corporate tax rate that would cheapen the relative value of tax-exempt munis, there could be even more pain in store for the municipal market when the Senate weighs in.

The House Ways and Means Committee begins deliberations on the 429-page tax reform bill noon Monday.

Many industry observers believe Federal Reserve Board Janet Yellen will retire from the central bank once her term as chair expires in February. But there are reasons she might stay.

Refundings on the calendar for the week ahead spurred speculation that issuers may rush deals to market before they are banned by the GOP tax plan.

Undoing the floating net asset value requirement for money market funds would give municipalities more flexibility, GFOA testifies.

With a tax bill on the table that places the cost of tax cuts on the municipal finance market, the time to voice opposition is now.

Top-shelf municipal bonds were stronger on Friday around midday, as market participants were still going over the details of the GOP tax reform bill.