Finance

Two rating agencies placed a negative outlook U.S. toll roads, while others monitor risks as volumes decline as COVID-19 keeps drivers at home.

The comptroller called for passage of a federal rescue bill and measures to shore up the city budget.

The municipal bond market again sold off as much as a half percentage point across the curve.

The central bank said its program to support money market mutual funds will also serve as a backstop for state and local governments.

The authority, which tapped its $1 billion credit line and received a warning shot from Moody's, says COVID-19 is a disaster that requires a national response.

Barber and Amoroso will work together during a temporary transition phase.

Lipper reported a whopping $12.2 billion of outflows from municipal bond funds. Out of that huge number, $5.3 billion were from high-yield funds. The $12 billion figure of outflows in one week equates to about 3% of annual municipal volume.

A coalition of healthcare industry organizations is asking for $100 billion in direct federal help, warning that the survival of some hospitals is at stake.

Benchmarks showed again that the short end was being hit hardest — 30 basis points up on the one-year and at least 10 up on the long end, but the entire curve was being cut drastically. The primary market was again at a standstill.

Tax-exempt municipal yields rose substantially last week causing the MSRB to take a look at trade data, said John Bagley, MSRB chief market structure officer.

What will change in the age of autonomous vehicles? Almost everything, Mois Navon of Mobileye tells Chip Barnett as they talk about the future of cars and the effect it will have on tomorrow's society.

The municipal market is dealing with a major liquidity event, with massive short-end selling.

GLWA has the flexibility to come to market as early as this week, but is monitoring the market in light of the COVID-19 impact.

The municipal finance industry is dealing with minute-by-minute news of state-wide school closures, shuttered restaurants, curfews and canceled events. New issues are increasingly being put on the day-to-day calendar.

Muni market players may have to rely on more than their basic instincts as the economy heads into stormy weather.

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

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.