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The outlook shift to stable from negative is a badly needed shot in the arm from the capital markets as the city prepares to come out of the COVID-19 pandemic.

State Comptroller Susana Mendoza urges the Treasury Department to change its guidelines to allow the state to pay off MLF loans with ARP funds.

Shea, a veteran of the municipal bond business, joins the insurer's board. She will serve on its audit and environmental and social responsibility committee.

Texas moved closer to enacting a law that would ban government work with Wall Street banks whose policies restrict the firearms industry, marking a pushback from Republicans in the gun-friendly state against corporations taking sides in America’s political fights.

In California, where state revenues are pouring in well ahead of projections even before American Rescue Plan funds arrive, lawmakers have spending plans.

A favorable response would enable pre-construction work for the long-awaited $11.6 billion upgrade of New Jersey-New York train tunnels.

While the pressure was on municipal yields, which rose two to four basis points, the Investment Company Institute reported another week of inflows, with $928 million coming into municipal bond mutual funds and another $285 million into ETFs.

The city and state want to use ARP funds to repay debt issued to manage the pandemic but Treasury's initial guidance would derail those plans.

The board also submitted an amended plan of adjustment and disclosure statement for the central government bond deal.

President Biden met Wednesday with top Republican and Democratic congressional leaders to discuss a bipartisan way forward on this issue.