City of Philadelphia, PA

The section of I-95 that collapsed was part of a recent $212 million reconstruction.

"Our ratings reflect the progress the city has made over time on important issues like rebuilding reserves and improving the health of our pension fund," said Philadelphia Treasurer Jackie Dunn.

Small businesses that are certified to work for either Chicago or Philadelphia's transit agency will now be able to work for the partner agency as well.

Fitch Ratings said the upgrade reflects the city's improved operating performance due to a robust tax revenue rebound and management's proactive budgetary actions.

ICI reported $704 million of inflows, a $1.1 billion drop from the week prior, bringing the total to $76 billion year to date.

With a lot of cash still needing to be put to work, the Investment Company Institute showed another large week of inflows at $1.814 billion.

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

Goldman Sachs is lead managet for the issuance, which includes tax-exempt and taxable bonds.

A majority of the week's largest new issues priced at yields mostly at or around benchmarks as secondary trading did little to move scales. In economic data released Tuesday, the June consumer confidence index climbed, suggesting spending will rebound.

Making it a summer Friday, munis were quiet. Participants contemplate why the market underperformed taxables to the degree they did when fundamentals are objectively strong and little has changed since before the FOMC.

The city council is considering the city's budget, which gave preliminary approval to a roughly $5.2 billion spending plan that allocates $156 million for violence prevention programs. Council members expect to vote on the budget Thursday.

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.

Mayor Jim Kenney called the latest rescue package the only funding source that can help with coronavirus-related revenue losses.

Jacqueline Dunn had held the interim position since last September.

The Pennsylvania governor can expect pushback from Republican lawmakers over budget-balancing plan aimed at higher wage earners.

City Council-approved residential construction tax and changes to a property tax abatement program paves the way for a borrowing plan that would aid the city’s poorest communities.

A federal judge largely rejected the arguments offered by Wall Street banks seeking to dismiss the lawsuit, which alleges a conspiracy to fix rates in the VRDO market.

The NBA team's plans for an arena financed with development bonds were dashed when a city-linked organization advanced a non-sports-centered waterfront plan.

The former Philadelphia City Council CFO will advise public sector leaders on how to address the financial and economic crisis caused by COVID-19.

Municipals were mostly unchanged with a firm tone on Tuesday, according to market participants, ahead of the week's large new-issue calendar that's heavy on taxables.