Northeast

It has become apparent that even more creativity will be necessary to pass legislation in the upcoming Congress. The only problem is we do not have the luxury of time.

The state of Illinois sold $2 billion of three-year notes to the Federal Reserve's Municipal Liquidity Facility at 3.42%.

The Port Authority of New York and New Jersey is proposing a scaled down 2021 budget that includes additional borrowing for its capital program.

Joe Torsella still advised that such a move to backstop the commonwealth's two largest public retirement funds is no panacea.

New York State's short-term revenue losses, resulting from coronavirus shutdowns, won't curb enthusiam for the Empire State Development Corp.'s offering, according to market sources.

The Empire State's general obligation bonds revised to negative from stable by rating agency due to heightened budget risks.

City Council-approved residential construction tax and changes to a property tax abatement program paves the way for a borrowing plan that would aid the city’s poorest communities.

The $1,000 denomination Liberty Bond deal aimed to lure socially conscious, retail investors to broaden its investor base.

The state will use debt service savings from the refunding side of the deal for near-term budget relief; the deal includes its first taxable refunding bonds.

Muni benchmarks were steady while new deals re-priced to lower yields in a tale of two markets. ICI reported more inflows.