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The Aa2 rating was affirmed, but the negative outlook could raise the stakes as New York lawmakers debate the city's budget gap.

"There was a certain amount of resilience munis had in the last week, comfortable enough with distribution," said Kim Olsan, senior fixed income portfolio manager at NewSquare Capital Markets. "But the 10-year Treasury backing up behind 4.20%, it proved to be the catalyst for adjusted bid-sides."

The state says the $6.5 billion project is not possible without toll revenue.

The initiative would create a bond-funded program to help middle-class homebuyers afford a downpayment.

As fuel prices ratchet up due to the Iran war, two states are already exploring suspending their fuel tax which would take a bite out of tax revenue and possibly lead to future bond sales.

Founded in 2006, the women-owned firm ranks among the nation's top municipal advisors.

U.S. public finance entities could see heightened "cyber reprisals" by Iran and its proxies amid the continuing conflict in the Middle East, with these attacks from state-sponsored actors, hacktivist groups, and lone wolves likely to become more frequent, Fitch Ratings warns.

Gov. Mike DeWine pointed to fiscal successes including a balanced budget, lowered taxes and a larger rainy-day fund.

At least two local agencies missed debt service payments after the Cook County, Illinois, treasurer's office was unable to issue property tax bills on time.

Report for March 11, 2026

This week, "look for deals to get priced to attract demand," said Pat Luby, head of municipal strategy at CreditSights, and Wilson Lees, an analyst at the firm.

The rules could lengthen the procurement timeline for some projects.

The 10th annual event, which was originally scheduled for Oct. 1, will take place next week with the participation of some key city officials.

The Government Finance Officers Association is providing comments on the U.S. Treasury Department's proposal to establish a new record keeping system for certain financial assistance programs.

Such a bank would be a "revolving financing tool that allows us to stretch dollars further, leverage federal programs without surrendering control, and deliver more projects without raising taxes," Gov. Jeff Landry said. 

Lucas Janda and Eduardo Cabrera have joined Nickel Hayden Advisors, bringing its staff of registered municipal advisors to seven, the Austin, Texas-based firm announced.

A detailed plan for issuing the bonds, which will be backed by an extension of a 1% special sales tax, is expected by May 15.

The audit did not quell calls for greater transparency and oversight for the authority as it continues a bond-financed expansion program.

Report for March 10, 2026