Markets

Prepaid gas deals were notably absent from 2020's record-breaking municipal market as COVID-19 caused market disruptions for banks that provide credit support.

In their state of the state addresses, the two governors discussed bringing in more revenues.

Muni to U.S. Treasury ratios hover near the lowest point in a decade and analysts see little impetus for munis to catch up in the near term.

The city has suffered tax and economic blows from COVID-19 but has weathered the impacts with adjustments to its roughly $1 billion budget.

The Muni New Issue Upload Form was created to expand access to additional deal participants and streamline the submission process for the forward calendar.

Municipals were little changed Monday as participants await the larger new-issue calendar while equities and U.S. Treasuries react to news out of Washington and COVID-19 ravages the globe.

As issuance rose in 2020, so did municipal bond insurance usage, with $34.167 billion wrapped, or 7.5% insured total issuance from almost 5.7% in 2019.

The employment report showed 140,000 decline in nonfarm payrolls in December, but economists found some positives in the numbers.

The state will sell $182.2 million of highly rated general obligation bonds in three separate offerings.

The tentative schedule includes $2.3 billion of new money and $4.6 billion of refundings and reofferings, state Comptroller Thomas DiNapoli said.