Markets

How severe a financial hit New York City will take during the COVID-19 pandemic is as much of an unknown as the degree of virus spread.

Career veterans call fallout from COVID-19 concerns on the municipal market worse than that of 9/11 and the 2008 financial crisis combined.

The 2017 Tax Cuts and Jobs Act continues to influence the composition of the municipal bond market.

The PPI fell 0.6% in February, the biggest decline in over five years. The core rate fell 0.3%

Michael Zezas, managing director of research at Morgan Stanley, notes that muni yields have not fallen as quickly as the Treasury equivalents and recession risk climbs the longer the coronavirus persists. Layer on top of those items the incipient oil competition and quite a storm is brewing. Even liquidity is becoming "disorderly." John Hallacy hosts.

The municipal market was hammered Wednesday by the COVID-19 pandemic with a more than quarter point correction in AAA benchmarks, issuers pulling deals off the shelves and more reports of pricing and evaluation confusion.

Wisconsin's capital finance director says the market offers savings on state bonds he never thought would be refunding candidates.

The consumer price index rose 0.1% last month, but moist recent data has been collected pre-virus spread.

Uncertainty continues to hang over financial markets due to COVID-19. Stocks rebounded somewhat Tuesday while muni yields rose as much as 16 basis points — Tuesday saw a correction of sorts.

The public agency that owns the city's convention center will consider the expansion project and a financing plan next month.