Northeast

The university and its health system are experiencing the biggest shortfalls ever, president Thomas Katsouleas told Connecticut lawmakers.

The governor said the group will craft recommendations to build economic resiliency and curb costs to prepare for a post-coronavirus future.

Municipals were weaker on Friday, with yields on the long end finishing out the day up one basis point. Since Aug. 12, when the muni market correction began and yields moved off record low levels, the yield on 10-year muni has risen by 23 basis points while the 30-year yield is up 29 basis points, according to Refinitiv MMD.

Street space has become the new battlegrounds as municipalities, with fewer resources, look to reimagine themselves.

The New York City suburb achieved record low interest rates for a more than $40 million bond transaction following a credit upgrade that reflected its recent fiscal discipline.

At a feisty board meeting, officials rolled out draconian scenarios of service cuts and fare and toll hikes should Washington help not materialize.

New Jersey Gov. Phil Murphy pitched a revised $32.4 billion nine-month 2021 fiscal year budget that hinges on billions of borrowing and newly enacted taxes to confront a coronavirus-induced revenue gap.

Joe Torsella said the online tool will help portray long-term drivers of the state’s financial picture.

The region's bond issuers sold $55.4 billion of municipal debt during the first half of 2020, a 21.1% increase from the same period in 2019.

Online-only charters could take some market share and revenue from districts and brick and mortar charters because of the shift to virtual learning.