Washington: What to Watch Now

Published on June 11, 2026

The Senate passed $70 billion immigration enforcement funding bill, Capitol Hill struggles to find consensus on how to regulate AI, and the Trump Accounts app is live.

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A Repricing, Not a Reversal

June 11, 2026
Begin with the print itself, because the headline flatters the internals only slightly. The bulk of May's gains came from leisure and hospitality, which added 70,000 jobs, nearly half of them in food services and drinking places; local government contributed 55,000, health care 35,000, and manufacturing a modest 7,000, while financial activities actually shed positions.

Vanguard’s Malloy Says Muni Yields Bolster Second-Half Outlook

June 11, 2026
Attractive yields and strong credit fundamentals are setting the municipal bond market up for a solid second half of the year, said Paul Malloy, the head of municipals at The Vanguard Group Inc.