Munis richened on Wednesday as markets awaited news of a deal to reopen the Strait of Hormuz. Processing ContentMuni yields fell by one to six points depending on the scale, with the biggest gains in the belly of the curve. Exchange-traded funds saw inflows of $1.83 billion after $378 million of inflows the week prior, per ICI data. Barclays priced for the South Carolina Public Service Authority (A3/A/A/) $398.31 million of revenue obligation bonds. The first tranche, $252.03 million of improvement bonds, Series 2026D, saw 5s of 12/2026 at 2.67%, 5s of 2031 at 3.16% and 5s of 2034 at 3.46%, noncall.