Public finance

New York State fiscal control board asks Long Island county to create contingency plan for confronting future deficits as a requirement for its new $3.3 billion budget.

Refinitiv Lipper reported tax-exempt mutual funds saw $1.288 billion of inflows in the week ended Dec. 23, the seventh week in a row investors put cash into the funds.

Moody’s Investors Service upgraded America's largest township one notch to Aa1 from Aa2 citing strong reserve levels during the COVID-19 pandemic bolstered by federal aid.

The president-elect takes a much more expansively realistic view on the synergistic relationship between infrastructure investment and the middle class.

IHS Ipreo estimates the week's bond volume at $7.3 million in a calendar composed only of small negotiated deals.

A record year of overall issuance, led by a boom in taxables, tells the story of a growing muni market with a broader, more diverse investor base.

Bankruptcy judge Swain barred the government from implementing and enforcing the revenue and spending laws the Oversight Board had challenged.

Sources see ways to get more investment in infrastructure with municipal bond provisions, but bipartisanship will be essential.

They cite coalition building, learning from past mistakes, project planning and effective outreach during the pandemic.

With the November jobs report showing a decline in employment, and the coronavirus raging, economists debate the state of the commonwealth's economy heading into the new year.

Florida's triple-A ratings face an ongoing vulnerability because of the fiscal and economic impacts of COVID-19, its annual debt report warns.

Fitch Ratings upgraded bonds supporting the Maryland light-rail transit project after the sides reached an agreement that protects bondholders.

Taxable munis have posted the highest returns among all fixed-income indexes this year, BofA said.

The Legislature approved $800 million for the state's emergency fund.

Gov. Gina Raimondo signed the $12.8 billion FY21 budget bill, which includes seven ballot questions on $400 million worth of projects.

Bondholders say Puerto Rico is in a good position to pay the amounts listed in the February 2020 proposed Plan of Adjustment.

The county board signed off on about $600 million of borrowing and the financing teams that will bring the deals to market in January.

Munis were flat Monday as the entire curve was said to be undergoing a consolidation.

Several factors have combined to position an innovative approach — the public-private partnership, or P3 model — as a crucial emerging tool for public entities nationwide.

The board wants to increase tax compliance, spend more on healthcare capital projects, and advance the release of CAFRs, among other things.