Northeast

A $345 million taxable bond deal will support the public-private partnership arrangement that will upgrade the College Park campus district energy system.

The system, trustee and bondholders of about $992 million in debt are supporting an exchange of "substantially all" existing bonds, a disclosure statement said.

Issuance remains robust Wednesday with an estimated $5.9 billion, said J.P. Morgan strategists led by Peter DeGroot.

Shailen Bhatt, administrator for the Federal Highway Administration, said his agency is working to play catch up on initiatives as diverse as rebuilding Baltimore's downed bridge and building electric vehicle chargers.

It is not clear how the Metropolitan Transportation Authority would fund its capital plan if the governor puts the brakes on the toll plan for lower Manhattan.

Connecticut's GO deal is expected to benefit from its improving fiscal reputation, embodied in two rating outlook revisions to positive ahead of the pricing.

The first chip in the state's triple-A crown comes ahead of plans to competitively auction $1.2 billion of general obligation bonds next week.

May volume "surprised on the high end and it has been one of the fastest starts to the year historically," said James Pruskowski, chief investment officer at 16Rock Asset Management.

The move to reclassify marijuana as a less-dangerous drug comes amid slowing growth of cannabis-related tax revenue in states that legalized it, like Colorado.

With a myriad of challenges facing state and local governments to fund vast infrastructure needs amid a shifting climate and severe weather events, there are government officials across the country that have begun to address them head on. Paying for them is one of the biggest challenges.