City of Los Angeles, CA

Fitch Ratings changed the outlook on the city's bonds to stable from negative ahead of the deal.

The Los Angeles Department of Water and Power will share some State Water Project supplies with smaller water agencies in Southern California.

With incumbent Eric Garcetti awaiting confirmation to an ambassadorship, would-be successors are lining up for a two-round election in June and November 2022.

The city council's budget and finance committee approved the increase and now the matter is headed to the full council.

City department heads are being asked to identify projects that would be eligible for federal funding.

ReThinkNYC, battling entrenched transit and real-estate interests in its call for a unified network, cites economic development gains and capital savings.

Ridership displacement, remote work and online shopping amplify pre-pandemic challenges such as large capital plans.

A volatile U.S. Treasury market and month-end positioning are pressuring municipal yield curves.

The short end of the yield curve faced pressure from a cheaper UST five-year. As the flattening trend in UST takes hold, demand for duration will also spill over into the tax-exempt space, with long-dated munis continuing to outperform, analysts say.

Kroll analysts say federal aid helped the city avoid tapping deficit financing to pass a balanced budget.