Markets

The shutdown of struggling Destiny USA due to COVID-19 could prompt more gambles from the property owner, a local expert says.

The Move America Forward Act would permanently reinstate Build America Bonds, advance refundings and expand the issuance of private activity bonds.

Mostly stronger-than-expected data suggests improvement, with a long way to go.

Matt Boardman, head of fixed income for RBC Wealth Management, talks with Chip Barnett, about how the municipal bond market has changed over the past few months in light of the coronavirus pandemic. He talks about how the economic effects due to COVID-19 caused a "sudden and violent" dislocation in munis for over two months and how we’ve now returned to being a more rational and reasonable market and remains vibrant and strong.

The day's big new-issue slate was led by the pricing of the New York State Urban Development Corp.'s $1.3 billion deal.

Federal Reserve Chair Jerome Powell told Congress the Fed will "keep its foot" on the gas pedal until the pandemic ends.

Its $400 million GOs attracted investors, resulting in a record low interest cost of 2.31%, according to state Treasurer Shawn Wooden.

Municipals finished weaker on Tuesday amid Treasury weakness and equity strength.

The former Loop Capital executive has nearly two decades of experience in underwriting and institutional sales.

Fed chair says recovery has started but will take time and follow "uncertain" path.