Far West

Hard on the heels of last week's successful California sale, the municipal bond market will see some much needed supply head its way this week.

The secondary market took a backseat to the primary Thursday with yields holding steady while Lipper reported $833 million of inflows, the first since February 26.

State Sen. John Moorlach thinks cities and counties should have to obtain voter approval before issuing pension obligation bonds.

With coronavirus decimating the state's dominant industry of tourism, Moody's dropped Hawaii's rating outlook to negative.

ICI reported nearly $3 billion of outflows, which is foretelling that coronavirus-driven volatility still lingers even if the muni market has rallied by at least 60 basis points since early-April high yields.

Virgin Trains USA hopes to sell tax-exempt bonds from its $600 million California allocation this summer.

May is when budget talks usually get serious in California, which has a budget highly dependent on income and capital gains taxes.

The deal to buy 200 million masks a month will help California's medical workers while pressuring its state budget.

Stay-at-home orders and school closures driven by COVID-19 have cut traffic in half or more on many toll roads and bridges.

Marshall Medical Center in Placerville was cut to BB-plus.