Port Authority of New York & New Jersey

The bistate agency intends to fund a build-in-place Manhattan terminal with capital funds, air rights, PILOT payments and federal backing.

Muni yields have been in a nine-basis point range since the beginning of the year while UST yields have fluctuated more than 20 basis points. With so little supply, muni credit spreads continue to compress.

The bi-state agency may face further cuts to its capital program after receiving no funds in the second round of federal coronavirus relief.

The Port Authority of New York and New Jersey is proposing a scaled down 2021 budget that includes additional borrowing for its capital program.

Proposed upgrades to the 110-year-old tunnel linking Manhattan and northern New Jersey have hit roadblocks under President Trump.

A project to bring train service to LaGuardia Airport is closer to breaking ground despite the fiscal headwinds created by the COVID-19 pandemic.

Bi-state transportation agency seeks $3 billion of federal assistance to avoid capital plan cuts.

Fewer fliers due to the coronavirus pandemic sparked a second downgrade to Port Authority of New York and New Jersey-issued bonds sold for Kennedy Airport.

For the 10th week in a row, investors put cash into tax-exempt mutual funds with Refinitiv Lipper reporting a $857 million inflow.

New York issuers jump in for retail and Texas Transportation also makes an appearance as attractive low yields lure more issuers in. However, some participants say caution is warranted as the coronavirus spread widens in the South and West.