Northeast

The University of the Arts, a private college in Philadelphia that abruptly closed its doors in June, filed for Chapter 7 bankruptcy.

The competitive sale comes as the market prepares for a very New York-heavy week next week in the primary.

Philadelphia, New Jersey and the 76ers could all spend billions of dollars. Opponents argue no one will be getting a good deal.

The New York region's beleaguered transportation agency could need up to $92 billion for its next capital plan, said State Comptroller Thomas DiNapoli. 

Issuance as of Wednesday is at $345.327 billion, a 32.7% increase over 2023. The Bond Buyer 30-day visible calendar on Monday was at $20.02 billion, the largest in nearly four years.

The group, which has grown to more than 100 individuals since its inception in 2019, will host an event featuring Connecticut Treasurer, Erick Russell.

Massachusetts drew multiple bidders for all four tranches when it sold $850 million of general obligation bonds competitively last week.

Municipal bond mutual funds saw inflows as investors added $956 million to funds after $1.047 billion of inflows the week prior, according to LSEG Lipper.

The state Supreme Court will determine if the Granite State's property tax-based school funding is constitutional. 

The $180.24 million deal comprises $76.085 million of metropolitan district bonds and $104.155 million of consolidated public improvement bonds.