Northeast

The CPI numbers coming in pretty much as expected "was a relief" to the markets, with the bond market rallying after the release, said Luke Bartholomew, senior economist at abrdn.

Fiscal '24's capital financing program leans on a mix of state and federal debt and over $900 million in bonds.

State Senate Ways and Means Committee chair Patrick O'Connor said Gov. Maura Healey's tax proposals would remain largely untouched.

The Municipal Forum of New York presented awards to four people at its annual fund-raising dinner in Manhattan on May 3. Money raised at the dinner is used to support the Urban Leadership Fellows internship program to support high school seniors heading to college.

Continued commitments to meeting long-term liabilities under Gov. Phil Murphy were cited as key in a slew of recent bond rating upgrades for the Garden State.

Three public finance veterans and one industry hopeful took the stage Wednesday in Manhattan to accept awards at the forum's 32nd Annual Awards Dinner.

"The latest upgrade is further recognition of the work we have put into responsible budgeting," said Treasurer Elizabeth Maher Muoio.

Maine's tax collection season was better than expected, bucking expectations at the threat of looming recession, a state committee told lawmakers.

Total volume for the month was $30.599 billion in 577 issues, down from $40.423 billion in 900 issues a year earlier. Total issuance year-to-date is at $107.626 billion, falling 25.2% from the same period of 2022.

While fiscal 2023 and 2024 budgets remain balanced, outyear gaps increase to $4.2 billion, $6.0 billion and $7.0 billion in fiscal 2025 through 2027, respectively.