Markets

Coronavirus-led fears are leading investors, particularly retail, to cash once again amid uncertainty surrounding how much and what maturities of municipal bonds the Fed will purchase once its program begins.

The package calls for reinstating advance refunding, Build America Bonds and tax credit bonds.

To help state and local governments after the COVID-19 pandemic, Cumberland Advisors is proposing a new municipal security.

Wednesday’s economic data were not as bad as projected, but included just the beginning of the effects of the coronavirus on the economy.

The agency placed its ratings on the MTA’s Triborough Bridge and Tunnel Authority general revenue bonds and subordinate revenue bonds on watch-downgrade.

Moody’s revised its outlook on the NCAA's Aa2 rating to negative from stable, an action that impacts less than $10 million of debt.

The primary market remained mostly on the sidelines with issuers slow to jump back into coronavirus-driven volatility while also awaiting Fed engagement.

The city, smarting from two new negative rating outlooks, says it can change the competitive deal's timing or reject bids if the market turns against it.

Municipal bond issuance was $67.88 billion after the first two months of 2020 and was on pace to easily eclipse the $400 billion mark — then COVID-19 completely turned the market upside down.

Consumer confidence dropped in March as the economy shut down to prevent the spread of the coronavirus, but economists expected a larger decline.