Connecticut

Connecticut's baby bond trust received its initial funding without the need to borrow with the help of a debt reserve insurance policy.

Moody's Investors Service upgraded the Connecticut capital city's issuer rating to Baa3 from Ba2.

Buy in starts at $100 and the one-year taxable notes carry a 5% coupon rate. The Green Banks is seeking $350,000 for a green energy upgrade program.

Following a two-year delay in implementation, babies born after July 1 in Connecticut whose whose births are covered by the state's Medicaid program will see the deposits of $3,200 into a publicly managed trust fund.

Gov. Ned Lamont signed income tax rate cuts expected to benefit nearly 1 million people in the most comprehensive cut since the income tax was imposed in 1991.

"We are delivering the largest cut to Connecticut's income tax rates in state history," Gov. Ned Lamont said.

Outflows continue as Refinitiv Lipper reported investors pulled $1.345 billion from municipal bond mutual funds for the week ending Wednesday.

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.