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Rate volatility is still evident on the buy side of the municipal market as bid wanted lists reflect redemptions or portfolio restructuring by investors, analysts said.

It is the underlying economy and demographics that drive tax revenues, budget needs, policy decisions, and capital needs/debt issuance of governments. Economic data is objective and updated often which can be critical in times like these.

The Center on Budget and Policy Priorities said bankruptcy "could significantly raise states' cost of issuing bonds to pay for major transportation projects and other investments that boost the economy."

Economists also expect the Fed's balance sheet to more than $10 trillion as policymakers look to lift the country from a recession brought on by the coronavirus pandemic.

At a virtual quarterly board meeting this week, the board discussed its search for the next CEO, which has been affected by the virus.

The Commerce Department reported that new orders for manufactured durable goods fell 14.4% in March while the University of Michigan’s consumer sentiment index dropped to 71.8 in April, the largest monthly decline on record.

Nevada was one of the last states to recover from the Great Recession

The state's tough budget position was underscored by an agreement with noteholders to extend a $750 million maturity while paying them higher interest.

Size, timing and structure hinge on market variables, senior manager Jefferies said.

A federal judge denied the SEC's motion for summary judgement against John Paulsen, setting the stage for a trial.