Washington

The Federal Reserve's inspector general says the reserve bank CEO did not trade on confidential information or have conflicts of interest, but did violate central bank rules and policies.

The August consumer price index showed inflation remains above the Federal Reserve's target level and makes a 50-basis-point rate cut next week unlikely, economists said. Further, many expect the market will be disappointed going forward, as future cuts will likely be shallower than expected.

The candidates touched on muni-adjacent issues like energy policy, housing and tariffs but offered little new information on infrastructure proposals or tax policies.

The House Financial Services Committee held a hearing Tuesday examining the practices of proxy advisors and their relationship with ESG investing.

Issuance as of Wednesday is at $345.327 billion, a 32.7% increase over 2023. The Bond Buyer 30-day visible calendar on Monday was at $20.02 billion, the largest in nearly four years.

Municipals lagged the UST moves again, cheapening ratios and creating a valuable entry point for investors looking for compelling taxable equivalent yields, particularly 10-years and out.

Environmental regulations under fire in California.

The high-grade issue is expected to be well received by the market. D.C. joins a growing list of issuers refunding outstanding BABs amid lower rates.

It's the latest proposal for a type of national infrastructure financing structure in lieu of the municipal bond market.

"The numbers are weak, but not cusp of recession weak," Chris Low, chief economist at FHN Financial, said.