Public finance

Missouri lawmakers have opened a new salvo in the battle with Kansas over who gets to fund new stadiums for the Kansas City Royals and the Kansas City Chiefs.

Mass deportations and tariffs on key trade partners are expected to have a "significant" negative impact on the U.S. and California economies, according to the UCLA Anderson Forecast.

The Texas city, which is considering an $800 million general obligation bond election next year, expects to issue nearly $400 million of debt in 2025.

The House Committee on Transportation and Infrastructure is in the early stages of hammering out a surface transportation bill designed to prop up the Highway Trust Fund while House Ways and Means tinkers with a tax deal.

Disasters like wildfires, floods and hurricanes "are striking harder and more often."

Illinois will sell $725 million of junior sales tax revenue bonds in a competitive deal pricing Tuesday. The Build Illinois bonds will fund capital projects.

The top five bond financings totaled more than $6 billion.

Short-end U.S. Treasuries rallied mid-morning, while UST yields were little changed out long, but ended the day weaker across most of the curve with the greatest losses out long. Munis were steady throughout the day.

The city's Independent Budget Office projects New York's operating surplus as a percentage of tax revenue will fall to 4.8% at the end of the fiscal year.

The New York City Transitional Finance Authority plans to make an impact on the municipal market this month with $1.8 billion of bond sales.