Public finance

"There are big credit differences between Chicago and New York City," said an investor.

The measure would fund 40,000-plus homes to address the state's persistent supply gap, supporters say. Time is tight to qualify it for the June election.

"We're starting off from a really high tax equivalent yield and that really starts the market from a position of strength," said Matt Norton, CIO for municipal bonds at AllianceBernstein.

The tax reform costs will be offset by reductions in certain government spending, application of excess revenues that are coming in, and elimination of certain tax exemptions.

As Congress hammers away on a surface transportation bill, counties are fighting for a seat at the table while reckoning with dwindling gas tax revenues.

The Maryland Department of Transportation's acting secretary said the bill would provide "greater transparency and accountability in transportation spending decisions."

Pending city council approval, the February competitive bond sale would be the first issuance from $950 million of debt authorized by voters on Nov. 4.

State revenues were down 0.7% in the first six months of the fiscal year compared to a year earlier.

January got off to a good start, with muni yields rallying through Jan. 7. Since then, yields have been steady to slightly richer in spots, with muni yields seeing some strength in the front end and belly of the curve.

Gov. Ferguson pushed a wealth tax and infrastructure spending in his State of the State speech, but Republicans cried foul on the spending.

Public pensions have notched some improvements as the uncertainty surrounding state budgets and the effects of tariffs raise concerns.

Eurostar veteran Nicolas Petrovic will oversee the Florida system while Mike Reininger will focus exclusively on Brightline West.

With the latest injunction in favor of Revolution Wind, the Trump administration's war on alternative energy is seeming more and more quixotic.

"The bond market breathed a sigh of relief this morning as the CPI inflation numbers came in a tad weaker than expected," said John Kerschner, global head of securitised products and portfolio manager at Janus Henderson Investors.

The rating agency lifted the state's general obligation and other ratings by a notch, citing well-established and prudent governance practices.

The second-largest public school system in Texas could ask voters to approve as much as $6.24 billion of bond authorization as soon as in May.

Despite the quiet start to the week for munis, all financial markets may feel a "heightened level of risk for rate volatility over the next few days," said Tim Iltz, a fixed income credit and market analyst at HJ Sims.

The governor's $348.9 billion budget would boost education but targets housing investors.

New York's governor and mayor called Manhattan's cordon toll a success on its first anniversary, but congestion pricing has not cleared all legal hurdles.

"With decent job growth in December and a downtick in the federal funds rate, the Federal Reserve will likely hold the federal funds rate steady at [its] next decision in late January," said Comerica Bank Chief Economist Bill Adams.