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Triple-A muni yields rose another five basis points on the short end while UST rose up to seven. UST yields are the highest since 2007.

Municipals saw more cheapening on the short end Friday as selling pressure persisted all week.

Muni and UST yields surged Tuesday on expectations the Fed will have to aggressively raise interest rates to bring down inflation.

Federal Reserve chair Jerome Powell said the central bank will remain aggressive in fighting inflation despite promising economic data.

The report from Senate Homeland Security Committee ranking member Rob Portman, R-Ohio, details China's campaign to infiltrate the Federal Reserve. But even amid rising tensions between the U.S. and China, response to the report has been muted.

Investors added $236.491 million to municipal bond mutual funds, per Refinitiv Lipper data, versus the $698.782 million of outflows the week prior. High-yield saw inflows hit nearly $550 million.

Investors sit on the sidelines, waiting to see how much the Fed will hike rates. The consensus appears to be another 75 basis point rate hike, though a full point hike could be on the table.

Economists expect the FOMC to raise interest rates 75 basis points on Wednesday, although a full point hike could be on the table.

The Miami metro area saw the most private-sector job growth among all metro areas in the state in June and year-over-year.

The former Treasury official and University of Michigan administrator?s confirmation gives the Federal Reserve Board a full complement of seven governors for the first time in nearly a decade.