Northeast

"The upgrades incorporate our view of New Hampshire's improved economic and demographic growth trends that continue to perform near or above those of the U.S. and regional peers," said analyst Thomas Zemetis.

"What we're doing is just being prudent managing the risk," said Metropolitan Transportation Authority Chief Financial Officer Kevin Willens.

Set to be priced by Jefferies on Monday for retail investors and on Tuesday for institutions, New York City's tax-exempt general obligation bond deal is tentatively structured in four series with two subseries.

To maintain the city's good credit rating and robust fiscal health, New York City Comptroller Brad Lander is also proposing a stronger debt management policy to make sure the city keeps its debt service below 15% of tax revenues.

LSEG Lipper reported fund inflows of $63.8 million for the week ending Wednesday following $300.5 million of inflows the prior week. High-yield saw its 11th consecutive week of inflows at $180.4 million, down from $278.6 million the week prior.

The New York MTA has not sold fixed-rate transportation revenue bonds since February 2021. The first maturity of that deal (4% 11/15/44) priced at +81 and was evaluated at +78 as of Wednesday by BVAL, according to CreditSights strategists. The same maturity but with a 5% coupon was priced at +59 to BVAL.

Municipal bond buyers looking for yield need look no further than the OTB's non-rated tax-exempt revenue bond deal that's set to be priced this week.

The state Supreme Court ruled that prevailing wage rules for public projects don't apply to private entities that borrow using tax-exempt conduit bonds.

"While rate volatility returned this week, should the market return to range-bound levels for a protracted period of time, investors might want to add exposure to sectors that provide the most value and have underperformed thus far," Barclays said. 

"My 'One Philly Budget' invests $2 billion over five years in new operating and capital dollars focusing on five pillars — public safety, clean and green, economic opportunity, housing and education," said Mayor Cherelle Parker, the city's first woman mayor.