Florida's elected Cabinet has authorized seven bond issues that combined represent one of the largest amounts of new debt approved by the panel at one time. The Cabinet at its last meeting of the year Tuesday unanimously granted requests to issue more than $2.06 billion of bonds made by Division of

“Undoubtedly, depending on the course of

While manufacturing in the New York region was slower in December, respondents to the Empire State manufacturing survey were more optimistic about six months ahead. The current general business conditions index fell to 4.9 in December from 6.3 in November, suggesting expansion at a slower pace, but the six months ahead

The Illinois Sports Facilities Authority is sounding alarms over its dismal fiscal picture heading into fiscal 2022 in the absence of a strong economic recovery that fuels a big pickup in hotel tax revenues or a debt restructuring to eases near-term pressures. Bolstered by the use of a special reserves, the

The Port Authority of New York and New Jersey's scaled down 2021 $7.3 billion budget includes plans to sell $3.6 billion of bonds in 2021, as it deals with massive revenue losses caused by the COVID-19 pandemic. The bi-state agency’s fiscal plan will be voted on Thursday. Debt service payments would

Municipal yields were steady Tuesday as investors were handed billions of New York, Connecticut and Texas paper with deals re-pricing to lower yields, pre-sold totals high and sub-5% coupons a dominant theme. Meanwhile, as expected, Illinois sold $2 billion of notes to the Federal Reserve through the Municipal Liquidity Facility. The

Illinois began chipping away at a nearly $4 billion budget hole this week by slashing $711 million in spending and the expected closing this week of a $2 billion loan through the Federal Reserve’s Municipal Liquidity Facility. Illinois Gov. J.B. Pritzker announced the fiscal 2021 cuts Tuesday. He also called on

Municipals ended the week little changed ahead of an at least $9 billion new-issue calendar led by a Puerto Rico Aqueduct and Sewer Authority $1.4 billion refunding deal and a Massachusetts $1.2 billion of taxable general obligation revenue anticipation notes, among an eclectic mix of credits. Triple-A benchmarks held steady with

Joe Biden's election as president has raised the specter of a federal public works program designed to boost climate resilience. Nonprofit think tank Center for an Urban Future wants New York City to get a running start. A report by the center lists recommendations for project ideas by leaders in coastal resilience

Asset and capital allocations often exacerbate systemic racism across the financial services in some surprising ways. Innovators in the fields of asset management, banking, impact investing and pensions suggest there are also many ways to disrupt the cycle. Shifting the flow of capital could help reduce or eliminate institutional barriers