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Controversy over state borrowing levels and how to backstop COVID-19 measures surrounded a two-year, $4.7 billion bond authorization bill that Gov. Ned Lamont signed.

The comptroller, citing projected losses in entertainment and tourism while the city is virtually closed, called for a savings target of 4% of tax levy-funded agency spending.

The suspension of spectator sports removes two critical revenue streams for the venue in Brooklyn, according to Moody's Investors Service.

The Federal Open Market Committee lowered the fed funds rate target to between zero and ¼% in an emergency meeting on Sunday, but while analysts say the move was needed, they feel it will take more to offset the effects of COVID-19.

In an unprecedented move, the Federal Reserve on Sunday cut rates to near zero.

Uncertainty still abounds for the public finance space, as just before the market close, President Trump declared a national emergency. Meanwhile, states and cities across the country are closing schools, sporting events, and cutting back public transit. But Friday, at least, provided some reprieve from the five previous volatile days.

Nuveen, Friedlander, BofA offer some recommendations on COVID-19 credit and sector impact.

The agreement would end current and future litigation by class members over the South Carolina utility’s failed nuclear project.

Cities and states that rely on hotel taxes and tourism-related revenues will lose billions as events and attractions shutter to slow the spread of COVID-19.

Perhaps most important, nobody involved in this issue has argued that issuers or anybody else would benefit in any way from exempting MAs from appropriate regulation.