Markets

Primary market deals generated strong demand, and municipals were little changed in secondary trading.

The ADP employment report was better than expected, but the real test will be Friday's employment report.

Comptroller Kevin Lembo forecast a $620 million fiscal 2020 deficit in his monthly update to Gov. Ned Lamont.

Illinois said Tuesday it signed an agreement for the Municipal Liquidity Facility to purchase its one-year certificates. Closing is expected Friday.

Moody's action on Aa1-rated Nevada follows a Fitch Ratings outlook cut to negative three weeks ago as the coronavirus hammers a tourism based state economy.

The fragility of the economy amid protests and the continuing coronavirus threats have dealers unloading some risk.

The Wisconsin Center District deal provides some expansion financing and near-term debt relief after the agency was stung by lost conventions and tax revenue.

Wisconsin officials are still assessing the potential impact on its general fund revenues.

State and local governments have increasingly filed COVID-19-related disclosures to the market, but only about 931 issuers out of roughly 40,000 have filed over 1,500 material event notices and continuing disclosures since the pandemic began.

Some investors expressed concern over the market‘s muted reaction to the country’s depth of effects over the current crises.