Markets

The municipal bond market again sold off as much as a half percentage point across the curve.

The authority, which tapped its $1 billion credit line and received a warning shot from Moody's, says COVID-19 is a disaster that requires a national response.

Barber and Amoroso will work together during a temporary transition phase.

Lipper reported a whopping $12.2 billion of outflows from municipal bond funds. Out of that huge number, $5.3 billion were from high-yield funds. The $12 billion figure of outflows in one week equates to about 3% of annual municipal volume.

A coalition of healthcare industry organizations is asking for $100 billion in direct federal help, warning that the survival of some hospitals is at stake.

Schools in 39 states had closed by Wednesday.

As the Federal Reserve continues trying to keep markets liquid as the stock market sinks, economic data are showing the effects of COVID-19.

Benchmarks showed again that the short end was being hit hardest — 30 basis points up on the one-year and at least 10 up on the long end, but the entire curve was being cut drastically. The primary market was again at a standstill.

Tax-exempt municipal yields rose substantially last week causing the MSRB to take a look at trade data, said John Bagley, MSRB chief market structure officer.

With a significant decline in new infections in China, positive news may be ahead, one expert says.