Finance

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.

How severe a financial hit New York City will take during the COVID-19 pandemic is as much of an unknown as the degree of virus spread.

Career veterans call fallout from COVID-19 concerns on the municipal market worse than that of 9/11 and the 2008 financial crisis combined.

Michael Zezas, managing director of research at Morgan Stanley, notes that muni yields have not fallen as quickly as the Treasury equivalents and recession risk climbs the longer the coronavirus persists. Layer on top of those items the incipient oil competition and quite a storm is brewing. Even liquidity is becoming "disorderly." John Hallacy hosts.

The municipal market was hammered Wednesday by the COVID-19 pandemic with a more than quarter point correction in AAA benchmarks, issuers pulling deals off the shelves and more reports of pricing and evaluation confusion.

Uncertainty continues to hang over financial markets due to COVID-19. Stocks rebounded somewhat Tuesday while muni yields rose as much as 16 basis points — Tuesday saw a correction of sorts.

As COVID-19 wreaks havoc on global markets, munis try to keep pace.

S&P sees positives in Gov. J.B. Pritzker's proposed fiscal 2021 budget but they don't move the rating dial given a daunting bill backlog and pension strains.

As fear and uncertainty over COVID-19 rapidly grow, it has sent yields for both municipals and Treasuries to never before seen low levels — begging the question if we could see zero or negative yields here in the States?

The world remains on edge about the rapidly spreading COVID-19 and those fears once again have Treasury yields digging down even deeper. COVID-19 fears have now impacted fund flows, as municipals suffers outflows for the first time in 60 weeks.

Sources say action on the SEC's proposed exemptive order has slowed, though it could garner attention at next week's conference.

Dan Scholl, head of municipal fixed income at Wilmington Trust, views munis as inefficient and retail oriented. However, he maintains credit has never been better. In managing $5 billion of assets in high-grade SMAs, he finds value in housing, healthcare and IDBs. John Hallacy hosts.

It feels like we have stepped into a new virtual reality in the municipal market. Things are not what they appear to be any more.

Vallejo, California, benefited from last week's record-low municipal market rates when it finally sold its water revenue bond refunding.

It was a busy day in the primary, as the markets continue to deal with crosscurrents of COVID-19 and election results.

Richard G. Bartow and his son Richard T. Bartow joined the office this week and will focus on K-12 education.

Recently elected Mayor Justin Elicker revived an old municipal battle cry with a call for more contributions from Yale University and Yale New Haven Health.

The rating agency expects to resolve the rating watch evolving within the next four months.

The Federal Open Market Committee cut the fed funds rate 50 basis points to a range between 1% and 1.25%. The decision to cut rates was unanimous.

The MSRB's annual fact book showed that trading volume dipped 14% year over year.