Markets

The bonds are coming in three tranches, mixing tax-exempt new money and a taxable refunding.

The upgrade precedes the sale of $202 million of taxable refunding bonds next week.

The New York mayor rolled out his $92.3 billion preliminary spending plan with warnings about federal and state variables, more pronounced amid the COVID-19 crisis.

Powell, speaking on a livestreamed event, said interest rates will be raised "no time soon" and there will be plenty of notice "well in advance of active consideration."

The Foothill-Eastern Transportation Corridor Agency in California has slated a tender offering exchange for Jan. 21 ahead of a Jan. 25 advance refunding.

Municipal bonds continue to ignore UST and ICI reports $2.67 billion of inflows. While CPI should stay soft through the first quarter, expectations for future inflation should be considered.

Prepaid gas deals were notably absent from 2020's record-breaking municipal market as COVID-19 caused market disruptions for banks that provide credit support.

In their state of the state addresses, the two governors discussed bringing in more revenues.

Muni to U.S. Treasury ratios hover near the lowest point in a decade and analysts see little impetus for munis to catch up in the near term.

The city has suffered tax and economic blows from COVID-19 but has weathered the impacts with adjustments to its roughly $1 billion budget.