State of New York

Municipals finished little changed ahead of this week's almost $14 billion of new issues.

Organizers say the goal is for for technologies to make public transit safer, cleaner and more adaptive.

While few observers are content with the new balanced budget, many say they can live with it as they look to an uncertain economic future.

The municipal market saw a $40 billion-plus month for the second time this year, as issuers flooded the market with bond sales during the month of June.

As some states see new coronavirus lockdowns, municipals maintain stalwart position.

While reducing the FY21 spending plan to $87 billion, New York's mayor said he needs $1 billion in labor concessions or the city could lay off up to 22,000 workers.

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.

The plans include personal income tax notes and a line of credit with a consortium of banks.

Howard Cure, director of municipal bond research at Evercore Wealth Management, analyzes New York State’s $177 billion 2021 fiscal year budget and the impact of major fiscal uncertainties stemming from the COVID-19 pandemic. Andrew Coen hosts.

Better technology can help enhance efficiency, analysts and civic leaders say.

April finished with $23.7 billion of issuance, a 15% decline from the $27.9 billion in April 2019. Volatility from the pandemic has caused erratic swings in benchmark yields, resulting in the lowest muni volume total in the month since 2011.