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

With vaccines on the horizon, signalling an end to the COVID-19 pandemic is closer, the economists at BNP project a healthy rebound in economic activity globally in the second half of next year, with rising inflation expectations, but rates remaining at the zero lower bound for at least the next

Municipal bonds were steady Monday as strong technicals and the dearth of new-issue supply relative to redemptions continued to flatten the yield curve and keep muni/U.S. Treasury ratios low. Treasuries pared back Friday's losses to see the 10-year hover around 0.93% Monday but the divergence of municipal rates from UST

Surveys of manufacturing and services both showed slowing growth, and despite a gain in construction spending in October, it followed a revision to a decline from an initially reported rise in September. The Institute for Supply Management's manufacturing sector index slipped to 57.5% in November from 59.3% in October.

Ike Papadopoulos joins Hilltop Securities as

Maine's healthy reserves, achieved through proactive budget management, have positioned the Northern New England state to withstand revenue uncertainties stemming from the COVID-19 pandemic, according to analysts. Moody’s Investors Service analyst Pisei Chea said Maine’s strong reserve levels would enable it to weather any potential pitfalls that may arise this winter

Municipals outperformed Treasuries as yields rose 10 basis points on the UST 10- and 30-year on talk of a potential stimulus deal and equities hit all-time highs. Secondary trading held municipal yields steady while Illinois’ highway deal priced and re-priced five to nine basis points lower and New York City Municipal

Wisconsin Gov. Tony Evers’ administration is treading cautiously as it assembles a new two-year budget over concerns that the COVID-19 pandemic could cut more deeply into state revenues than forecast. Modest revenue growth is projected over the course of the biennium that begins July 1, enough even to make a small

Federal Reserve Governor Lael Brainard said Tuesday that more government fiscal aid is needed to prevent deeper damage to a U.S. economy coping with a fresh surge in coronavirus cases.

A federal court should strike down the Securities and Exchange Commission’s conditional exemption for muni advisors because the regulator did not solicit stakeholders’ input and was “arbitrary and capricious,” according to the Securities Industry and Financial Markets Association. SIFMA made its case in a newly-filed brief in the U.S. Court of