Northeast

Triple-A yields fell up to five basis points Friday while USTs were mixed. Munis still underperformed taxables on the week, but the setup for the asset class going into yearend is decidedly positive.

The $250 million of new money social bonds will finance public school construction projects, with another $190 million refunding debt issued to build schools.

Secondary trading showed clear strength across the yield curve Thursday with bellwether names trading up significantly from recent prints and original pricing levels. New-issues in the primary benefited with issuers repricing to lower yields and tight to triple-A curves.

"The city's commitment to making the tough, but necessary, decisions to get on the path to financial prosperity is commendable," said Department of Community and Economic Development head Rick Siger.

"The city cannot provide everything to everyone. But it can thrive and help our most in-need neighbors if it prioritizes key services, relentlessly manages them to get results, and operates effectively and efficiently," said the CBC's Ana Champeny.

The top five bond financings have an average dollar volume of more than $1 billion.

More than one out of every 100 residents who pay income taxes left the Empire State during the pandemic in 2020, according to report released by state Comptroller Thomas DiNapoli. And, while slowing, the trend hasn't stopped.

Michael Milken's attorney Richard Sandler penned a book blasting his friend's prosecution. High-yield muni experts weigh in on whether Milken's influence extended to the muni market.

The College of Saint Rose, a private Roman Catholic school in Albany, said Friday it plans to close after this academic year.

Pennsylvania leads the new-issue calendar with $2.1 billion of GOs in four series via the competitive market while the New York City TFA will bring another $1.4 billion of exempts and taxables.