Investments

New Jersey Governor Chris Christie and New York Governor Andrew M. Cuomo delivered a letter to President Barack Obama Tuesday outlining a framework aimed at achieving funding for a new trans-Hudson commuter rail tunnel.

Connecticut received a $700,000 federal grant to study of transit-oriented development in the Hartford line corridor, which covers New Haven, Hartford and Springfield, Mass.

A proposed P3 procurement center at the Transportation Department would assist states in reaching effective agreements with private investors.

ILLINOIS

FLORIDA

The municipal market has priced in a possible rate increase this week, even though some analysts are now suggesting the Fed may wait longer before making its first move since 2008.

Portland, Ore., will need more than $2 billion over the next decade to bring its streets into good shape after years of neglect.

MASSACHUSETTS

ALABAMA

Recent demise of several proposed public-private partnership projects indicate that P3 activity may slow down, S&P said.

Municipal bond volume won’t make much of a comeback in the first full week after Labor Day as issuers await a decision on interest rates at the Sept. 16 and 17 Federal Open Market Committee meeting.

The Affordable Care Act is helping lift the non-profit health care sector out of its years-long torpor, according to Standard & Poor’s, which revised its outlook on the sector to stable from negative.

KANSAS

CALIFORNIA

Municipal bond funds again saw outflows in the latest week, according to Lipper data released on Thursday. Weekly reporting funds experienced $95.986 million of outflows in the week ended Sept. 9, after seeing outflows of $586.481 million in the previous week, Lipper reported.

In the week ended Sept. 10, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index was up two basis points to 4.44% from 4.42% in the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Illinois-based College of DuPage fired its top two fiscal managers – treasurer Thomas Glaser and controller Lynn Sapyta – accusing the two of violating school investment practices and other internal rules.

Fitch Ratings released a draft on Thursday detailing changes to its U.S. tax-supported bond rating criteria. The rating agency said it expects less than 10% of the ratings covered would be affected.

Key House committee chairman says not enough time for agreement on funding a multiyear highway bill before current extension expires.

The Dormitory Authority of the State of New York authorized $1.12 billion in new financings.