Public finance

The $107 billion adopted budget for fiscal 2024 maintains a near-record $8 billion in total reserves but doesn't increase them.

States are putting billions of dollars of federal broadband funding to work, with more on the way.

S&P expects improvement although for some borrowers that simply means a reduction in losses, or breakeven to just slightly positive margins.

Triple-A yields rose one to five basis points, depending on the scale, as secondary trading showed cheaper prints and some new-issues had to be cheapened to clear the market while USTs saw larger losses of up to 16 basis points on the three and five year.

The bank would be modeled in part on the Reconstruction Finance Corporation created during the Great Depression, said the bill's sponsor, Rep. Danny Davis, D-Ill.

The Board of Education approved a fiscal 2024 budget amid warnings about the need for more state help to manage a gap of up to $700 million in fiscal 2026.

S&P analyst Anne Cosgrove cited "Kentucky's commitment and execution to strengthen its budgetary flexibility and long-term financial stability."

U.S. District Judge Laura Taylor Swain ordered the Oversight Board propose a new plan of adjustment by July 14.

With the first half of the year ending on Friday, municipal sources say the second half of the year will be off to a good start.

The new toll on vehicles entering large swathes of Manhattan will be a key part of the MTA's future capital plan.

Changes to the direct-pay system provides opportunities for nonprofits to cash in tax credits

Road projects make up more than half of the winning applicants, with transit accounting for another 16%.

John Di Stasio, president of the Large Public Power Council, said while the industry faces some pressures, public power systems are stable with growing revenues and healthy cash coverages.

Getting project grant agreements in place, which formally releases the federal funds, is taking more time than expected.

Judge Laura Taylor Swain said she found the Oversight Board expert's calculations more convincing than those of the bondholders.

While supply has started to pick back up with an outsized primary market calendar this week, it's still not enough to meet demand, said Cooper Howard, a fixed income strategist at Charles Schwab.

The Brent Spence Bridge and Hudson Tunnel were among last year's winners of the sought-after federal Mega grants.

State lawmakers passed bills aimed at the city's home-rule powers and a union contract impasse, as well as funding for a convention center expansion.

A $100 million offering of voter-authorized general obligation bonds will speed up blight removal and fund parks and transportation projects.

California Gov. Gavin Newsom and lawmakers struck a budget agreement just days before the start of the fiscal year.