Connecticut

Moody's elevated the state's GOs to Aa3 from A1, citing a commitment to boosting rainy-day balances and sound governance during the pandemic.

A formula revision will boost funding for local governments most in need under the state's payment in lieu of taxes program.

An agreement between Gov. Ned Lamont and Connecticut tribal nations opens the door for the state to compete with its Northeast neighbors.

The governor, in his $46 billion biennial budget proposal, called for both as the state seeks to plug a deficit from the effects of COVID-19. The plan also has a bond provision.

A Pioneer Institute report cited “a persistent trend” of high-income earners leaving high-tax states for low-tax ones.

The Connecticut Housing Finance Authority calls it a roadmap for creating greater opportunities for low- and moderate-income state residents.

The state of Illinois sold $2 billion of three-year notes to the Federal Reserve's Municipal Liquidity Facility at 3.42%.

The $1,000 denomination Liberty Bond deal aimed to lure socially conscious, retail investors to broaden its investor base.

A school official called the coronavirus-related hit "a temporary blip," and said the rating agency moved too quickly.

Treasurer Shawn Wooden, the country's only Black elected state treasurer, spoke about diversity and inclusion to the Northeast Women in Public Finance.

The university and its health system are experiencing the biggest shortfalls ever, president Thomas Katsouleas told Connecticut lawmakers.

The region's bond issuers sold $55.4 billion of municipal debt during the first half of 2020, a 21.1% increase from the same period in 2019.

The commission approved the borrowing amid projections of a $153 million budget shortfall for fiscal 2020 due to COVID-19.

The $16 million, small-denomination offering, to finance projects with climate and environmental benefits. is modeled after World War II Series E bonds.

Its $400 million GOs attracted investors, resulting in a record low interest cost of 2.31%, according to state Treasurer Shawn Wooden.

New York, Texas and Pennsylvania issues headline the new-issue slate.

Yields on the long end of the curve dropped as much as seven basis points while very short yields rose.

The market looks forward to Thursday's $3.3 billion note deal from DASNY after handling a sizable calendar Wednesday.

Comptroller Kevin Lembo forecast a $620 million fiscal 2020 deficit in his monthly update to Gov. Ned Lamont.

The primary supply for the holiday-shortened week is projected to dip to just over $4 billion, with a mix of tax-exempt and taxable issuance led by Colorado’s $500 million of certificates of participation.