State of New York

The mass transit agency, its finances reeling from the coronavirus, rejected bids from 10 different banks and sold $451 million of notes to the Municipal Liquidity Facility.

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.

The move will enhance economic recovery from the coronavirus, the rating agency said.

Failure to aid one could hurt the others, according to the state comptroller's review of the city's financial plan.

Municipal yields fell as much as three basis points on the long end of the AAA curves.

As the Metropolitan Transportation Authority lines up two note sales, the rating agency said the authority could tap into the Federal Reserve’s Municipal Liquidity Facility.

Metropolitan Transportation Authority Chairman Patrick Foye called mass transit "the circulatory system of the nation."

With prospects of federal aid waning, an $8 billion revenue gap will leave the the state government and Gov. Andrew Cuomo few attractive options.

The pandemic has magnified the woes of New York City’s public hospital system — long a problem unit — the comptroller said.

Municipals stronger ahead of this week's summer supply slate as Congress debates a potential fiscal stimulus package.