City of New York, NY

Olson, a 20-year municipal bond veteran, replaces Marjorie Henning who retired at the end of April. In his new position, he will be in charge of the Bureau of Public Finance, which manages the city's borrowing for the comptroller.

The recent influx of migrants has stressed the city's social services system amid uncertainty about whether funding will come from state or federal government.

Strength that began on Tuesday and continued Wednesday marked the first sessions since early May for positive performance after a hefty selloff, noted Kim Olsan, senior vice president at FHN Financial.

The U.S. economy is "too resilient and this will force the Fed to not only deliver more tightening but also to keep rates higher for much longer," OANDA's Edward Moya said. NYC and Connecticut GOs on tap.

Fernandez was a veteran municipal bond attorney who spent nearly 67 years at Hawkins, Delafield & Wood LLP before his retirement in 2017.

"We are seeing strength in the securities, transportation and warehousing and office sectors," New York State Comptroller Thomas DiNapoli said "but retail, restaurants, construction and tourism continue to lag the national recovery."

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.

If implemented, New York's congestion pricing plan will be the first in the nation.

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.

The New York Fed said the tech sector's employment contraction impact on the New York City economy was unlikely to be significant.

Comptroller Brad Lander said the pension funds adopted a measurable and transparent plan that could serve as a model for other investors.

"Folks are aware of possible pressure that could weigh on the market, but attitudes are still generally more constructive than negative at this time," says Tom Kozlik of HilltopSecurities. 

Outflows continued, with the Investment Company Institute reporting investors pulled $693 million from mutual funds in the week ending March 22, after $684 million of outflows the previous week.

Massive transit projects have funding momentum, and traditional road and bridge projects are advancing as well despite political opposition and some shaky funding.

"If banks become even more reluctant to make new loans, the likelihood of a recession grows," says New York City Comptroller Brad Lander.

Mayor Eric Adams executive budget "will be released in just 51 days, giving us limited time to marshal the substantial resources we will need to stay balanced in fiscal 2023 and 2024," said OMB Director Jacques Jiha.

New York State Comptroller Thomas DiNapoli talks with Chip Barnett about his proposal for an amendment to the state constitution to limit backdoor borrowing by agencies and give voters a bigger say on bond issuance. (25 minutes)

"As we spoke with our underwriting partners and our municipal advisors, given [market] volatility, we shortened that retail order period to one day," says OMB's David Womack.

"I think ESG is here to stay in our market. I think it's a natural fit with the types of infrastructure that our market finances," said MSRB CEO Mark Kim.

Louisa Chafee is senior vice president for external relations and public policy at the UJA-Federation of New York, the largest local Jewish philanthropy organization in the world.