Markets

Mayor Eric Adams’s proposal to ask the state to raise the Transitional Finance Authority’s bonding authority by $19 billion is being opposed by Comptroller Brad Lander.

Supply is beginning to roll in and the primary action on Wednesday provided more direction. ICI reports $1.4 billion of inflows.

The financing will help pay for upgrades that will keep the Cleveland Guardians at Progressive Field through 2036.

The agency cited “the appropriation of the full actuarial pension contribution in fiscal 2022 for the first time in 26 years" coupled with improved reserves.

“We are anticipating a substantial present value savings as a result of our being proactive,” said the spokeswoman for state Treasurer John Schroder.

Federal Reserve Board Chair Jerome Powell would not commit to timing for liftoff, stressing decisions would be data-based and the Fed will not allow inflation to become entrenched.

Chicago Public Schools returns to the market after resolving a union dispute that shuttered schools amid the spreading omicron COVID-19 variant.

Pressures from inflation concerns and broader rising rates weigh on munis in the second week of 2022.

Munis followed UST weaker while stocks sold off after the employment report, which offered many messages. Analysts believe the bottom line is the Fed will liftoff in March.

The rating agency is keeping the not-for-profit hospital sector's outlook stable as hospitals continue to benefit from the impact of federal coronavirus relief.