Ohio is facing steeper than projected declines in cigarette smoking, and thus in tobacco settlement revenues, and disputes from tobacco giants over payments.
Airys puts "local governments in a position of knowledge and, therefore, action," said Columbus, Ohio, City Auditor Megan Kilgore, an advisor to the students.
Lawsuits surrounding everything from unethical sponsorships to the sale of refunding bonds swept across markets last year, creating a municipal battleground.
"Even though it will be priced to sell, such large supply in one week may be a struggle for the asset class," said Anders S. Persson, Nuveen's chief investment officer for global fixed income, and Daniel J. Close, Nuveen's head of municipals.
Trading in Los Angeles credits has become more volatile. An L.A. Department of Water and Power deal slated for Wednesday went day-to-day.
The House Ways and Means Committee has kicked off debate on the Tax Cuts and Jobs Act that is scheduled to sunset at the end of the year, with much at stake for the municipal market.