Markets

The corporate bond business appears to enjoy greater liquidity than tax-exempts, said Lee Deviney, executive director of the Texas Public Finance Authority.

The coronavirus has ravaged nerves worldwide and spread its gloom into the financial sector. The U.S. municipal bond market is slipping into park from neutral as most issuers and underwriters await a better day.

While some economists expect a V-shaped recovery, others say it will not be as sharp as the decline, and it could be years before output rises to pre-coronavirus levels.

S&P Global Ratings moved its outlook on Illinois' BBB-minus to negative from stable on "worsening economic conditions," an action that also impacted sales tax, convention center and sport facilities' bonds.

There will be more queasiness ahead of any calm in municipals as adjustments to the coronavirus-induced climate continue to test the market’s resolve.

Coronavirus-driven job losses are way beyond predicted, and expected to get worse, but most still see a V-shaped recovery.

The bond-financed $420 million expansion project moved forward over the objections of board members who questioned the timing amid plummeting tax revenues.

Milwaukee's experience in market Thursday speaks to the struggles of primary market borrowers navigating COVID-19-driven turmoil.

Forced selling continues and credit spreads are widening as much as 200 basis points in spots making for a large bid-ask disconnect in the market.

The Louisiana State Bond Commission authorized four bond issues, and was updated on market volatility created by the COVID-19 pandemic.