Markets

Despite severe budget stress, the city and state can take some meaningful actions, such as reviving the restaurant industry, expanding the role of P3s and rebuilding multi-purpose infrastructure, analysts say.

A stratified credit differentiation can be expected to linger for the foreseeable future until revenue streams in sales-tax and other project-backed bonds are more fully restored. Pension obligation bonds are back in California.

Fed officials also talk about the muni liquidity facility and efforts to help the economy in the wake of the COVID-19 pandemic.

Hard on the heels of last week's successful California sale, the municipal bond market will see some much needed supply head its way this week.

While many new-issues are still on the day-to-day calendar for next week, more are being slated to price on specific days, signaling that dealers and issuers are ready to again test the primary.

Its series of responses provides a greater understanding of the city’s history, says NYU Wagner's Mitchell Moss.

The downgrade brings Fitch into alignment with Moody's and S&P, and the negative outlook leaves Illinois without any rating room above speculative grade.

The secondary market took a backseat to the primary Thursday with yields holding steady while Lipper reported $833 million of inflows, the first since February 26.

Jobless claims fell in the latest week though now 22 million Americans filed for unemployment since late March.

New York's mayor announced sharp cuts, a draw on reserves and a call for further assistance from Washington.