Connecticut

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.