Northeast

The state has allocated $1.3 billion over three years to repair and replace 163 buildings, General Treasurer Seth Magaziner reported.

While the race has drawn few headlines compared with the battle for mayor, a dozen hopefuls are running for the office.

Pennsylvania's competitive GO deal saw its yields fall further from recent trading while the North Texas Tollway Authority benefited from positive credit news on the transportation sector and repriced 25 basis points lower. ICI reported another round of $2-billion-plus inflows.

After just one session, the 10-year muni is back below 1% with ICE Data Services and Refinitiv MMD at 0.99% while Bloomberg BVAL is at 0.96% and IHS Markit at 0.95%.

Regina Egea, president of the Garden State Initiative, analyzes New Jersey's fiscal landscape, including the proposed state budget, unfunded pension liability and deficit borrowing. Paul Burton hosts. (20 minutes)

The states intend to come to market with $600 million and $1 billion, respectively, bringing state GO credits in an improving credit environment that has held yields down.

Rates, ratios and credit spreads have munis entering May on solid footing, though some pressures due to tax season and rising U.S. Treasuries remain.

Federal and state aid camouflage danger around the corner, fiscal watchdogs and others insist.

Congestion pricing, a Manhattan Greenway, open-streets programs and a plethora of other uses are all at play as city officials plan a recovery from COVID-19 and a full reopening of the city by July 1.

Data released Tuesday show an improving economy, which continues to stoke fears of impending inflation. Muni investors await New Jersey's $1.57 billion transportation deal.