Today In The Markets

California Gov. Gavin Newsom and lawmakers reached a budget agreement Saturday they say will close multi-year deficits by cutting $16 billion and declaring a statewide fiscal emergency to use reserves. The deal maintains the multi-year fiscal structure proposed in Newsom’s May budget revision to balance the budget in both 2024-25 and 2025-26, based on current

Muni lobbyists expect longtime ally Rep. Richard Neal to return to the chairmanship of the House Ways and Means Committee if Democrats reclaim a House majority in the coming elections, while a Republican victory would likely keep Chairman Jason Smith in power.   “I think Chairman Smith remains popular with his rank-and-file membership, so I fully

Software solutions firm Investortools and technology-driven broker-dealer Millennium Advisors have partnered to streamline the usual muni investment managers’ manually intensive workflow, the firms said. Millennium will provide clients with real-time pricing and trade execution capabilities by connecting directly to the Investortools Dealer Network, or IDN, according to a press release. Millennium will be a “fully

The P3 centerpiece of plans to revitalize New York’s John F. Kennedy International Airport was very well received last week in the municipal bond market. The tax-exempt deal for the New Terminal One project was upsized by $1 billion to $2.5 billion when the deal was priced Tuesday through the New York Transportation Development Corp.