Markets

Tuition revenue headwinds made worse by the COVID-19 pandemic cost New Jersey’s Rider University its investment grade rating.

The state's ratings are low investment grade, but the secondary market is pricing its bonds as high-yield.

Municipal market participants are confused, to say the least, about the Federal Reserve and its ability to buy long-term municipal securities. And there’s a good reason for the puzzlement.

Lawmakers granted Kevin Stitt authority to shift money where it's needed amid a coronavirus-driven fiscal crisis.

With Fed purchases on short end, more deals are showing up on the calendar and this week may become the testing ground for reopening the primary as participants gauge volatility and rates.

Public finance advocates are focused on the reinstatement of advance refunding and higher limits on bank-qualified issuance.

With Atlantic City casinos closed, Fitch Ratings revised the outlook to negative from stable on Casino Reinvestment Development Authority bonds.

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.