Finance

A more measured tone settled in on Monday as new deals begin to price in a coronavirus-weary marketplace. Municipal credit is beginning to come into focus.

AA-rated Las Vegas saw its outlook revised to negative by S&P Global Ratings with casinos shuttered and visitors absent.

The municipal bond market is poised to begin digesting larger primary issuance in the coming week after a massive rally in recent days.

Supply-starved investors flocked to the St. Louis-based private university's taxable deal, which was upsized to $450 million from $300 million.

Speaker Nancy Pelosi, D-Calif., said the next package will make up for shortcomings that haven’t been addressed such as the insufficient aid to state and local governments.

Demonstrating compliance with pricing and supervision rules has been challenging in the COVID-19-influenced market.

An obscure board authorized in 1973 and categorized as "military affairs and defense" approved Gov. Gina Raimondo's request despite questions about constitutionality.

Speaker Nancy Pelosi, D-Calif., pledged Thursday the massive spending bill would pass on a voice vote even though some objections were expected during a Friday morning vote.

Benchmark yields fell another 50 to 60 basis points, dropping them more than 1.5% in just four days. Meanwhile, a $450 million taxable new-issue came to market and was eight times oversubscribed.

With outflows occurring, Eric Kazatsky, muni strategist at Bloomberg Intelligence, maintains that muni appetite will vary directly with the credit hits that will be sustained in this environment. In some ways, he sees a return to pricing for the risk and the fundamentals. Taxable munis and ESG bonds will continue to gain in popularity. The future depends on the level of fiscal support in order to emerge from the crisis. John Hallacy hosts. Taped two weeks ago

Municipal benchmark yields were lowered by 60 to 80 basis points across the curve. Some trades pointed to nearly a 1% bump on short-term paper while state and local governments grapple with downgrades and revenue shortfalls.

Thirty-six firms made the cut, and eight didn't, when Illinois reviewed broker-dealer qualifications for new underwriting pools.

In the MSRB’s first report showing data from March 24, trades topped 87,215, which is likely a record, said Marcelo Vieira, MSRB director of research.

Overall $274.231 billion of the coronavirus emergency supplemental appropriations package goes to state and local governments and communities.

Chris Brigati, managing director of Advisors Asset Management talks about approaching the market with strategies in mind, but adapting to the realities of today. He shares concerns over liquidity and the challenges for cautious investors. The session was recorded two weeks ago. John Hallacy hosts.

The rating agency, citing severe ridership drops from COVID-19, dropped its rating to A-minus from A. It assigns a negative outlook.

The short end in particular was rebounding after Fed announced it would include variable rate demand obligations and short-term paper to its balance sheets.

Public finance advocates said the Senate bill has been broadened to authorize the Federal Reserve to purchase all types of bonds that are sold on the secondary market.

Two baseball stadiums and a basketball arena face cash-flow hits from the COVID-19 pandemic.

The economic dislocations brought by COVID-19 led Fitch Ratings to drop the Long Island county to BBB-plus.