Markets

The junk-rated school district won an upgrade and saw its secondary bond market spreads narrow as it expects to pocket about $1.8 billion in new aid.

Although all of the proposals have some bipartisan support in Congress, the extent of that support remains unclear.

As the governor faces an impeachment inquiry, just how New York State government will function on budget and other matters is an open question.

Inflows return, stimulus set, new deals on fire — the municipal market reaped all the benefits. Initial jobless claims dropped more than expected in the week, as reopening continued slowly, but the total remains higher than any week before the COVID crisis hit.

S&P Global Ratings cut CPS Energy to AA-minus from AA, as it faces $1 billion in unbudgeted costs for buying expensive power through the state grid operator.

The Securities and Exchange Commission has increased its focus on climate change disclosure in the corporate market.

The Investment Company Institute reported outflows from municipal bond mutual funds but inflows into exchange-traded funds. The February consumer price index came in as expected, while the core was below expectations, and analysts expect bigger rises ahead.

Johnson, in his announcement to run, emphasized New York’s recovery from the COVID-19 pandemic through effective use of federal stimulus dollars.

S&P moved Illinois' outlook to stable from negative amid revenue numbers that beat pandemic-driven low expectations. The rating remains the lowest among states.

Munis were stronger across the curve as secondary trading was constructive and bellwether credits moved yields lower.