Northeast

Despite the outperformance this week, and while the asset class had "a stellar December, which rounded out a very solid year," Barclays PLC strategists said the high-grade muni market has become "quite rich."

"The work done by our agency often focuses on the long-term," said Connecticut State Treasurer Erick Russell.

Moody's also affirmed the A1 rating on the authority's $3.2 billion of general revenue bonds and the A2 rating on the $2.5 billion of general revenue junior indebtedness obligations.

"There is no doubt that inflation has had an impact. It's important that we continue to ensure that everyone working in New Jersey has access to a livable wage," said Gov. Phil Murphy.

The muni market saw $379.992 billion of debt issued in 2023, only $11.076 billion less than the lackluster $391.068 billion seen in 2022.

The MTA's public review process on congestion pricing plan started Wednesday and will run through March 11. The MTA will also hold four hybrid virtual and in-person public hearings.

Newark Liberty, John F. Kennedy and LaGuardia airports remain on track to see their busiest year ever as 132 million passengers have passed through in 2023.

"Preserving a livable planet and a thriving economy will require a collective global commitment both to the phase-out of fossil fuels and to massive new investments," said New York Comptroller Brad Lander.

The county said this action will reduce its debt service costs by $115.9 million over the next six years.

With fears of further Fed hikes subsided, Birch Creek strategists said with "loads of cash still sitting on the sidelines, and expectations that cash will no longer earn 5%+, we believe the muni market will benefit in 2024 from a return of investors looking to allocate to the asset class."