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

A 2018 view of the Flatiron

The Municipal Securities Rulemaking Board wants stakeholder input on where its goals should focus in the next few years. In a request for comment filed Monday, the MSRB asked municipal market participants to comment on what the board should be focused on in the next three to five years. The last

Louisiana State Treasurer John Schroder has been released from the hospital after being treated for symptoms related to COVID-19. Schroder, who went home late Friday, said in a statement that he's feeling much better. He called healthcare workers "the true heroes of this pandemic."

Los Angeles’ city administrative officer has recommended layoffs to close an estimated $675 million budget deficit, including cutting nearly 1,000 police officer positions, a move that would bring the number of cops on the street to the lowest in two decades. If the City Council approves the move, it would be