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The state's ratings, just one rung above junk, are holding steady after analysts' initial review of a fiscal 2021 budget that pins hopes on future federal relief.

S&P Global Ratings lowered the Port Authority’s special project bonds issued of behalf of JFK International Air Terminal LLC to BBB from BBB-plus.

Lawmakers stressed the importance to invest in infrastructure as a way for the country to recover from the pandemic.

Chairman Patrick Foye said the designation will better position the authority to cope with the revenue loss from the coronavirus pandemic.

Moody's sees the state's budget woes as posing the most severe strain on the junk-rated district's fiscal prospects

Federal Reserve action to keep credit flowing rewards risky behavior and the remedy may be tougher regulation in the future, said former New York Federal Reserve Bank President William Dudley.

The bi-state agency can apply to use the Federal Reserve’s Municipal Liquidity Facility, if it chooses.

All U.S. states will be able to have at least two cities or counties eligible to directly issue notes to the Municipal Liquidity Facility program regardless of population.

Illinois did not use its maximum amount of notes in the Fed program which could mean a possible expansion of eligibility for the muni program.

Illinois said Tuesday it signed an agreement for the Municipal Liquidity Facility to purchase its one-year certificates. Closing is expected Friday.

The fragility of the economy amid protests and the continuing coronavirus threats have dealers unloading some risk.

The Wisconsin Center District deal provides some expansion financing and near-term debt relief after the agency was stung by lost conventions and tax revenue.

Wisconsin officials are still assessing the potential impact on its general fund revenues.

Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.

The Supreme Court's decision will lead to federal consideration of who should serve on the Oversight Board for the next three-year term.

Although voters are dissatisfied with the current administration's response to three crises, turnout is expected to be light.

State and local governments have increasingly filed COVID-19-related disclosures to the market, but only about 931 issuers out of roughly 40,000 have filed over 1,500 material event notices and continuing disclosures since the pandemic began.

Federal Open Market Committee members have been adamant that negative rates would be a last resort.

Sales tax collections fell 13.2% compared to the same month last year, the steepest decline since January 2010

Greater pre-trade transparency has been a long-standing Securities and Exchange Commission goal.