State of New York

The mass transit agency is staring at a prolonged fiscal calamity with further federal support at a standstill and its $51.5 billion capital program in jeopardy.

The Senate minority leader told advocates to lean on 21 key Republicans. "Everyone has friends and family in other states," he said.

Refinitiv Lipper reported $1.7 billion of municipal bond fund inflows. while municipal prices were little changed Thursday.

The day's big new-issue slate was led by the pricing of the New York State Urban Development Corp.'s $1.3 billion deal.

Municipals finished weaker on Tuesday amid Treasury weakness and equity strength.

The pandemic's effect on public transportation has revived debate about the role of bicycles, ferries, in-city commuter rail and other alternative modes.

Chairman Patrick Foye said the designation will better position the authority to cope with the revenue loss from the coronavirus pandemic.

Bond volume was 4.2% lower than it was a year ago but increased from March and April’s low totals.

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

Investors, while confident long-term about the transit authority, worry about immediate risks, Chairman Patrick Foye said in a letter.