Markets

The muni market strengthened, following treasuries, as yields continued to drop.

Just when everyone thought there would be little drama at this week’s Federal Open Market Committee meeting, the coronavirus has infected the broader markets. Experts still say monetary policy will be immune for now.

With demand at an all-time high and record inflows that is continuing to come into the market, one would think there would be more issuance.

The New York City Housing Development Corp. plans to issue $375 million of housing impact bonds, a new category of sustainable development bonds.

A mixture of taxable and tax-exempt deals priced into a market flush with cash. Muni yields continued to descend, as they moved three basis points lower today.

The deal comes as the state's transportation plans will shift to rely more on cash than on commission borrowing going forward.

Miroslava Mejia Krug is a veteran of top fiscal posts at two Chicago-area private higher education institutions.

The Leading Economic Index fell 0.3% in December to 111.2, while the coincident index rose 0.1% and the lagging index dipped 0.1%, the Conference Board reported Thursday.

The state sold tax-exempt refunding debt at 2019 rates but won't deliver them until 2021 when the call date of the original bonds is reached.

The Palmyra-Eagle district can't dissolve, and must find a way to close a looming budget gap as its reserves and enrollment dwindle.