A 20-inch pipe belonging to the Irvine Ranch Water District burst early Wednesday morning. Workers repaired the damage to the pipe; asphalt work remains and is expected to take place Thursday.
Muni yields rose up to 13 basis points Wednesday, depending on the curve, coming on the tailwind of a market correction, said Brad Libby, a fixed-income portfolio manager and credit analyst at Hartford Funds.
Munis sold off last week "as the anticipated market correction may have finally started ahead of the summer reinvestment period," said Jason Wong, vice president of municipals at AmeriVet Securities.
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