Public finance

The New York Power Authority created a new in-state conduit issuer to maximize savings and benefits for New Yorkers on a prepaid electricity deal.

States face slowing revenue growth and increasing spending pressures, the National Association of State Budget Officers said in its Fiscal Survey of States.

The new-issue calendar falls to an estimated $1.154 billion, with $939.1 million negotiated deals on tap and $214.8 million of competitives.

Chicago went to market Wednesday with $454.37 million of STSC refunding bonds, amid heated budget talks. Goldman took down $75 million of the bonds.

Meridiam, ACS Infrastructure Development, Sacyr Infrastructure USA LLC and Plenary Americas are among the firms that have signaled interest in the project.

The $6.3 billion all-funds budget was amended in the wake of the Nov. 4 defeat of a property tax rate increase that would have raised $109.5 million in revenue.

The deal would give the company time to seek additional equity, debt and federal funds.

The long-awaited jobs report paints a mixed picture for market participants: nonfarm payrolls increased by a greater-than-expected119,000 in September, but the unemployment rate rose to 4.4%.

Disruptions to air travel during the federal government shutdown has sharpened the focus on legislation that would divert funds from the Airport & Airway Trust Fund to pay salaries of air traffic controllers.

Flows into high-yield muni mutual funds had slowed over the past several weeks, and the past two weeks have seen outflows.

The situation is worsening, driven by rising costs and AI revenue risks, the forecast warns.

The Virginia Port Authority wanted to secure the future of a key container shipping facilty. The result is the Bond Buyer's Southeast Deal of the Year.

Connecticut transferred about $1.5 billion in excess budget reserves to its state employees' and teachers' pensions, said State Treasurer Erick Russell.

With the government reopened and data flowing, the FOMC may cut rates again in Dec. Steve Skancke, Chief Economic Advisor at Keel Point, will break down the mee

The market is in a bit of a lull right now as it braces for a deluge of economic data, which could spark volatility, said Jeff Timlin, a partner at Sage Advisory.

After terminating the project in September, the council approved an initial deal with a new contractor team to develop design and construction options.

Brian Bennett has been appointed director of Washington's lottery.

A $1.2 billion revenue bond required the Columbus Regional Airport Authority to "start from scratch." The result is The Bond Buyer's Midwest Deal of the Year.

The muni market has "demonstrated more conviction with steady demand and appealing relative yields weighing on the long-end while shifting dynamics on the short-end have led to municipals selling-off," said Tim Iltz, fixed income credit and market analyst at HJ Sims.

Chicago Mayor Brandon Johnson is seeking City Council approval of $1.8 billion in new money general obligation bonds and $2 billion in refunding authority.