New York

Total May volume was $31.167 billion in 750 deals versus $35.358 billion in 1,295 issues a year earlier. In a continuing trend, new-money issuance was up 14.2% in May year-over-year.

The recommendation would build reserves toward a target of 16% of tax revenues in order to prevent drastic service cuts during a recession.

Several states have passed, or are considering, legislation to bar local governments from making payments to criminals who hold computer systems hostage.

Almost $25 million of bond funds provided for school technology and security enhancements to state school districts this year from the 2014 Act.

Laura Rabinow of the Rockefeller Institute of Government talks with Chip Barnett about New York State’s $4.2 billion environmental bond referendum. Find out how the Clean Water, Clean Air and Green Jobs Environmental Bond Act of 2022 got on November's ballot and what it will actually do. (20 minutes)

California has received the most, at $9.7 billion, followed by New York. Transportation is the top spending category nationally followed by climate, energy and environment.

Despite compelling yields and ratios, buyers continue to be selective. Even if rates stabilize, municipal investors will likely be cautious for some time, waiting for fund outflows to abate, strategists said.

Fitch Ratings revised its outlook on the city's AA-minus rating to positive ahead of a $1.08 billion general obligation bond sale.

The Louisiana House passed a bill to limit firms that "discriminate" against the firearms industry from government business. A similar bill was vetoed last year.

Despite the pandemic, operating revenues increased 7.6% from 2019 to 2020 and 8.25% from 2020 to 2021.

The nomination to the bistate agency comes as the long-stalled project could see its first infusion of federal funds.

Total April volume was $34.329 billion in 729 deals versus $37.105 billion in 1,124 issues a year earlier.

Improving tax revenues allowed the mayor to increase the size of his spending proposal while keeping the budget balanced.

New York’s $220 billion fiscal 2023 budget focuses on environmental and social issues while staying in balance with federal aid and projection-beating revenue.

The state’s personal income tax revenue and sales tax revenue bonds were also lifted from Aa2. Related credits were also upgraded. The rating outlook is stable.

The budget includes a $600 million commitment from the state to subsidize a new stadium for the National Football League’s Buffalo Bills.

Hawkish Fed comments caused UST yields to rise by as much as 17 basis points, just as munis had caught a bid. The new-issue market fared well in digesting large deals amid the volatility.

Municipals have taken a hit in the first months of 2022, but higher yield levels and cheaper ratios have offered possibilities for both retail and institutional buyers, analysts say.

The $600 million deal is the authority's first 100% green transaction and it is also the first ever with bonds backed solely by revenue earned from specific transmission projects instead of the authority's general credit.

Panelists discuss the implications of working from home in a hybrid manner, rising crime and falling mass transit ridership, vulnerable revenue sources and the lack of affordable housing at a New York Fed event.