Northeast

The drenching of several regions exposed vulnerabilities that vary by state, and recurring problems that could jeopardize municipal credit.

The transition should not affect state credit, said John Ceffalio, senior research analyst for municipals at CreditSights.

The MTA budgets 16 months for environmental review of the tolling project for Manhattan's central business district.

Issuers sold nearly $60 billion of debt as states, cities and agencies adjusted to the COVID-19 environment and other variables.

Most recently, he was a principal investment officer and head of global equity at the Los Angeles County Employees Retirement Association, or LACERA.

The short end of the muni market saw trading of larger blocks at or below benchmarks but yield curves were little changed on a summer Friday.

Another replacement for exempt advance refundings, forward delivery bonds are attractive to issuers looking for savings and investors seeking incremental yield.

The Rhode Island Infrastructure Bank will offer $128 million of state revolving fund revenue bonds, and RIHousing will sell $172 million of homeownership opportunity bonds.

Another $2 billion-plus was reported flowing into municipal bond mutual funds in the latest week, continuing to be a supportive demand component for munis.

Kathy Hochul, a 62-year-old Buffalo native, will become the state’s first female governor. The former congresswoman has been lieutenant governor since 2015.