Connecticut

The U.S. economy is "too resilient and this will force the Fed to not only deliver more tightening but also to keep rates higher for much longer," OANDA's Edward Moya said. NYC and Connecticut GOs on tap.

Kroll Bond Rating Agency upgraded Connecticut's general obligation bonds to AA-plus, citing improved finances and a recent package of fiscal guardrails.

Connecticut residents would get an income tax cut and increased spending in education and workforce training under Ned Lamont's spending package.

Attorney general William Tong gave the legal stamp of approval to a high profile public-private partnership that came under fire for cost overruns.

Compared to December's projections, revenues are up $265.3 million and expenses are down $59.4 million.

The administration gave priority to large bridge projects that are ready to proceed with construction.

Tax-exempt munis have now regained late September levels, and November's rally has eclipsed October's selloff, MMA notes in a weekly report.

"S&P recognizes the progress that has been made and that Connecticut is getting its mojo back," said Gov. Ned Lamont.

Democrats Erick Russell in Connecticut, James Diossa in Rhode Island and Mike Pieciak in Vermont won open-seat races for state treasurer.

The Connecticut Green Bank's latest Liberty Green Notes brought in $250,000 for green upgrades to small business energy infrastructure statewide, the bank said.

Triple-A curves were a touch firmer in spots as secondary trading took a backseat to the larger primary activity with Connecticut and Massachusetts pricing general obligation bonds, a large CommonSpirit healthcare and several competitive issues led by Rhode Island GOs.

"Despite a pick-up in volatility in the rates market, municipals have been performing relatively well in October," according to Barclays PLC.

Baby bonds provide a long-term remedy by fostering upward mobility, while current anti-poverty measures do not, according to panelist Scott Winship.

Moody's affirmed its Baa3 rating and concluded a two-month-old review of the troubled city, which is under state fiscal oversight.

Improved commitments to pension funding, coupled with other changes to the two states' retirement systems, have yielded bond rating upgrades for both.

Surging state revenues eased the burden of managing fixed costs, Moody's says in an examination of state liabilities based on fiscal 2021 financial reports.

The Northeast's issuers sold $49.69 billion of municipal bonds in the first half of 2022, down more than 18% year-over-year.

Tom Wright, president and CEO of the Regional Plan Association, talks with Chip Barnett about the ongoing Gateway transportation project and its importance to the tri-state region. He also discusses the challenges and opportunities in transit, infrastructure, affordable housing, climate change and ESG. (30 minutes)

Municipals improved for the fifth session in a row with 10- and 30-year triple-A yields falling 30 basis points since Thursday. Connecticut priced $1 billion-plus of GOs and saw yields lowered in a repricing.