The Latest

State leaders are reluctant to grant New York City more bond capability, and other city leaders want Bill de Blasio to further reduce his proposed spending plan.

Cities and counties of fewer than 500,000 are seeing a fraction of the reimbursements for coronavirus spending that their larger counterparts received.

Tightening spreads and low yields ended the month as demand for municipal bonds is expected to overwhelm $6 billion in volume heading to the primary.

Consumer spending plunged while the Chicago Business Barometer fell in May.

Bond volume was 4.2% lower than it was a year ago but increased from March and April’s low totals.

California Public Utilities Commission approval is one hurdle for PG&E, which must exit bankruptcy by June 30 to qualify for a $21 billion bond fund.

Gov. Phil Murphy’s $5 billion emergency bond plan to patch revenue gaps caused by the COVID-19 pandemic faces an uncertain future in the state legislature.

“We crossed a lot of red lines that had not been crossed before,” said Federal Reserve Chairman Jerome Powell.

The Financial Stability Board issued a statement April 2 affirming that it is sticking with plans to transition away from Libor by the end of 2021.

Gov. Tom Wolf is expected to sign five-month, $26 billion spending plan, intended to buy time to measure the hit from the effects of COVID-19.