Markets

Without more fiscal support, the outlook becomes murkier with the possibility of economic data disappointment and volatility in rates, and historically muni demand dampeners, Morgan Stanley said.

While not a huge gain, "claims remain staggeringly high" six months into the economic downturn, analysts say.

Pledging the payroll mobility tax would get the authority a lower Municipal Liquidity Facility interest rate, board member Lawrence Schwartz said.

Accurate obligor identification can allow any matrix-based bond evaluation system to improve pricing accuracy and reduce manual intervention by pricing analysts, the firm said.

The city's use of reserves to manage past deficits drove a two-notch downgrade from S&P Global Ratings, to A from AA-minus.

ICI reports another $2 billion inflow week while new issues fare well. High-grades around the 2026 maturity were trading in large blocks showing stability.

While most of the losses have been recovered on a monthly basis, the bigger picture is not as rosy.

August and September economic activity has probably been better than that of July, analysts said, however some expect economic activity will resume its decline in October and the following months.

Diverse issuers from NYC to Texas to Chicago to Michigan to PA Turnpikes priced billions into the primary while the secondary again took a back seat.

The Florida Cabinet approved new money and refunding bonds, some of which may be sold as taxable debt with advance tax-exempt refundings no longer possible.