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Moody's joined the other three rating agencies in returning O'Hare's outlook to stable as Chicago plans to tap an up to $2.3 billion new money and refunding authorization next year.
Triple-A benchmarks saw one basis point cuts in spots inside 10 years while the five-year U.S. Treasury hit a high of 1.154%.
Spreads have been widening, but secondary trading was on the light side and triple-A benchmarks were cut by only a basis point in spots even as U.S. Treasury yields once again rose on the 10- and 30-year.
Friday’s data suggested inflation remains a problem, as the voices calling for Federal Reserve action increase.
Chicago Mayor Lori Lightfoot's finance team laid out plans to tap more than half of $9 billion of existing and proposed borrowing authority through 2022 to refinance debt for savings and fund infrastructure and pandemic recovery efforts.