Northeast

New Jersey sued the federal government to block a plan to charge drivers entering midtown Manhattan, claiming federal regulatory approval was ill-considered.

After a tax increase, the Metropolitan Transportation Authority projects five straight years of balanced budgets for the first time in more than 20 years.

The fiscal 2024 budget features new spending without a fare hike or clear indication of when a dedicated funding stream for the state transit operator will be found.

Officials are assessing the damage wrought by the worst floods to hit the state since Hurricane Irene. Since then, the state has spent millions to climate-proof infrastructure.

The back half of July is starting "much like the front half with ongoing UST volatility and municipal supply staying in the forefront," said Kim Olsan, senior vice president of municipal bond trading at FHN Financial.

Proceeds from the sale will be used to fund infrastructure projects in the city's $164.8 billion 10-year capital plan.

Mr. Wolfe worked at Goldman Sachs, Prudential Securities, E-Bond Trade.com, Merrill Lynch and ButcherMark Financial Advisors. He also led the Illinois Health Facilities Authority and had advisory roles for the city of Phoenix, New York City Health and Hospitals Corp. and Dartmouth College.

With the third quarter officially under way, municipal bond experts say the tax-exempt market is poised for better performance and stronger market technicals ahead in the second half.

Most top 10 issuers for 1H are from New York and California, with three from New York and three from California.

New York State Comptroller Thomas DiNapoli urged state agencies to do more to protect water systems from cyberattacks as Moody's Investors Service said cyber risks pose challenges to municipalities across the United States.