Markets

The airport will sell $925 million in a deal structured to lower short-run debt-service outlays as it manages through the coronavirus-driven air travel decline.

The Puerto Rico Aqueduct and Sewer Authority said it might be refinancing its bond debt with a new bond issue by the end of the year.

Recent toll hikes will offset a coronavirus-inspired drop in traffic and a refunding portion gives the authority "financial flexibility," according to analysts.

Advance refunding, direct-pay bonds, and increased limits on bank-qualified bonds would be among the muni-friendly tax provisions that have a good chance of becoming law if Democrats control both chambers of Congress.

Recovery will be more difficult because rates were low before the pandemic, Federal Reserve Bank of Boston President Eric Rosengren said.

Disney in late September said it would lay off 28,000 employees at California's Disneyland and Florida's Walt Disney World resorts.

Municipal bond issuers are coming market at a 26.2% faster pace than they were at this point last year.

Financial advisors in the municipal bond market accounted for $281.23 billion so far in 2020, more than the $225.54 billion in the first nine months of 2019. The top three spots remained the same, followed by some changes in the rankings from last year.

Municipal bond underwriters are on pace to easily surpass last year's total, despite the COVID-19 pandemic. Top bookrunners have accounted for a total of $328.60 billion through the first three quarters of the year, up from the $267.91 billion in the first nine months of 2019. The top five saw small changes compared to a year ago, while spots six through 10 saw more of a mix.

Eaton Vance operates dozens of municipal bond mutual funds under the Eaton Vance, Parametric and Calvert brands.