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The municipal market saw a plethora of deals come in while secondary market trading showed some weakness on AAA benchmarks.

Swain says the challenge would be considered in two stages.

State Comptroller Thomas DiNapoli warns of multi-year budget hits from virus with more federal aid needed to fill the gaps.

The new bill to replenish the Paycheck Protection Program clarifies that hospitals created as political subdivisions are eligible.

"This is undoubtedly the toughest time in MTA history," said Patrick Foye, who has asked Congress to double its $3.8 billion relief package.

The rating agency delivered the latest coronavirus-related hit to the city's ratings by cutting its outlook. The city's GO bonds were affirmed at AA.

Secondary market trading showed yields rising slightly, but the primary market again showed signs of life, as demand for the asset class seems to be gaining ground.

Financial strains from COVID-19 were the primary factor in downgrading the state to A-minus from A. The outlook was revised to negative from stable.

The New York City Council is set to unveil a COVID-19 relief package of bills that include help for small businesses and tenants.

Analyst says the shortfall is another problem for the island's economy.

Existing home sales fell 8.5% last month as the Philadelphia Fed said its indexes fell to record lows in April.

A disclosure filed with the MSRB said two rehabilitation and nursing facilities in Massachusetts were unable to make a scheduled payment due to the coronavirus pandemic.

The Illinois penalty that raises borrowing costs for all issuers in the state may widen as local agencies and governments face likely cuts in state support.

Despite severe budget stress, the city and state can take some meaningful actions, such as reviving the restaurant industry, expanding the role of P3s and rebuilding multi-purpose infrastructure, analysts say.

A stratified credit differentiation can be expected to linger for the foreseeable future until revenue streams in sales-tax and other project-backed bonds are more fully restored. Pension obligation bonds are back in California.

Florida’s attorneys cite flaws and errors in a special master’s report to support overturning its conclusions.

S&P cited the state's growing structural budget gap resulting from an oil price plunge.

Sales taxes are a pillar of the Texas state budget, and the usually stable revenue source has taken a hit from the COVID-19 pandemic.

Mayor Eric Garcetti announced plans to furlough thousands of city employees because of coronavirus-driven shortfalls.

Fed officials also talk about the muni liquidity facility and efforts to help the economy in the wake of the COVID-19 pandemic.