New York City Transitional Finance Authority

New York State’s revenue deficit deepened during the first three months of fiscal 2021, underlining how crucial federal funding is to help, according to Gov. Andrew Cuomo.

Municipals continued to correct, with yields on the AAA scales rising by as much as three basis points as signs point to investor pullback from current low yields.

Minority and women-owned business enterprises will now comprise 33% of city GO bond and Transitional Finance Authority book-runners and 40% for New York Water.

With the latest federal rescue package stalled, New York's mayor has asked state lawmakers to authorize an additional $7 billion in bonding.

Investors are sending the message that higher-grade, longer-term issuers will fare far better than lower-rated, higher-yield ones amid a focus on credit.

The short end of the municipal curve again saw yields fall, but that didn't impede the productivity of the day's new-issue market.

The Fed on Monday essentially said it was standing 10 feet back from the market, allowing it to manage the pandemic-driven crisis itself. Lower-rated issuers may benefit most from the facility.

High-grade trading Friday showed the disparate credit picture that investors are facing; they now need to dig deeper into municipal financials and the backstops on certain bonds.

The council wants to focus on the social safety net in light of the COVID-19 pandemic.

If the Federal government doesn't help, the $12 billion plan could be funded by the city selling "relief bonds."

New York City has seen debt service savings in excess of $2 billion since 2014, but that the city must find more opportunities to cut costs, says Comptroller Scott Stringer.

Expanding housing affordability, helping small businesses, fighting climate change and improving education topped the list of new initiatives.

Mayor praised for restraint ahead of uncertainty about possible big cuts to city services by Albany.

The top municipal issuers easily surpassed their issuance totals from 2018 year, with $400.51 billion in 10,582 transactions in 2019 compared to $320.35 billion in 8,549 deals the year before. California regained control of the throne after coming in third in 2018.

Four large competitive deals stole the show on Tuesday, including New Jersey's first general obligation sale in a little more than three years.

The municipal bond market started off the week adopting a cautious tone, eyeing issuance and world events.

Municipals look to be well positioned entering 2020 against a strong backdrop of market technicals and stable credit outlook.

Muni yields rose as more bonds hit the marketplace in the last big supply rush of the week.

The Federal Open Market Committee left rates unchanged and looked likely to keep monetary policy on a steady course for the near term.

There's just no stopping the municipal momentum this holiday season. Happy shopping, investors.