Markets

Illinois will borrow $2 billion through the Federal Reserve's Municipal Liquidity Facility to help manage its 2021 budget gap. The state previously borrowed $1.2 billion from the MLF for its fiscal 2020 pandemic hole.

The Investment Company Institute reported municipal bond funds saw $2.675 billion of inflows in the latest reporting week.

The flood of indicators released Wednesday were indicative of a slowing economy, analysts said.

The rating agency cited coronavirus-related curbs on economic activity in the commonwealth.

Fitch Ratings cited concerns about LADWP's debt leverage in setting a negative outlook.

Sources said the JFK deal was massively oversubscribed, allowing underwriters to lower yields from 15 to 45 basis points.

He was remembered for an evenhanded persona amid a tumultuous term from 1990 to 1993.

The consumer confidence index suggested expectations have slipped, and the Richmond Fed's services survey also offered a dim view ahead.

Municipals held firm ahead of this week's new issue slate, which features deals from issuers in New York and Texas. Treasuries weakened as stocks rose on positive coronavirus news.

Selling in a week with an expected light calendar should help the deal as will market fundamentals.