Northeast

Brad Lander says using municipal bonds could be one way to help move recent immigrants into mainstream society and provide a long-term economic boost to the city.

The former two-term mayor of Central Falls will face Republican James Lantrop, finance director for the town of North Kingstown, in the state's Nov. 8 general election.

Massachusetts Treasurer Deborah Goldberg talks about the Bay State's economic recovery, the largest ESG bond deal ever done in the municipal space and special state initiatives such as promoting diversity and inclusion and creating a Baby Bond taskforce. Chip Barnett and Thomas Nocera host. (22 minutes).

The rating agency cited progress on long-term fiscal stability and budgeting in its decision.

The state board that oversees the city's finances heard a positive assessment of the Big Apple's fiscal picture, tempered with a wary gaze into the future.

The decision follows months of turmoil that left the city without an approved budget well into the new fiscal year, said Moody's analyst Douglas Goldmacher.

The Investment Company Institute reported $2.527 billion of outflows from muni bond mutual funds in the week ending Aug. 31 compared to $765 million of outflows the previous week.

Surging state revenues eased the burden of managing fixed costs, Moody's says in an examination of state liabilities based on fiscal 2021 financial reports.

Many market players have revised their supply projections downward since rising interest rates have slowed down refunding and taxable volumes and general market volatility has stopped some issuers from participating.

S&P Global Ratings, who revised the state's GO bond outlook from negative to stable last week.