Markets

"If you're an issuer, this is fly-in season," said Jarrod Loadholt, partner at Ice Miller LLP. "Don't hope someone else is going to solve this for you — they're not."

The slowdown of growth in the fourth quarter does not imply there is dwindling demand for munis, said Pat Luby, head of municipal strategy at CreditSights.

"While there has been some reported buying by relative value institutions amid higher ratios from the muni-centric price correction, the market as a whole may not rally this week," said Matt Fabian, a partner at Municipal Market Analytics.

Hospital and health insurance operator UPMC's $735 million deal looks routine. But the volatile healthcare and insurance environments may disrupt that standard.

Municipals are little changed to start the week after last week's selloff, which saw muni yields cut up to 20 basis points out long.

Mayor Brandon Johnson's team wants the Chicago Public Schools to refinance debt to free up money for a pension payment to the city.

Gov. Josh Stein said in his State of the State address too many schools are overcrowded or decrepit.

March had been expected to be difficult due to a "combination of heavy supply, low redemptions, rate volatility, tax-related selling and now fund outflows," said Barclays strategists Mikhail Foux and Grace Cen.

S&P Global Ratings analysts said they reviewed their entire rated California public utility portfolio before giving seven negative outlooks.

A $150 million housing bonds with a taxable component is anticipated for May and $110 million higher education student loan bonds are also anticipated for that month.