City of New York, NY

The council wants to focus on the social safety net in light of the COVID-19 pandemic.

Despite a muted month of March due to the COVID-19 pandemic which included two weeks of no negotiated deals, muni bond issuers still sold more long-term debt than they did during the first three months of 2019. Issuers accounted for a total of $84.87 billion of bonds throughout 2,119 transactions, compared to $75.84 billion in 1,809 deals in first quarter of 2019. The top 10 features five newcomers from a year ago, including the top spot.

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.

Negative outlooks trigger questions about other reeling areas in the capital markets crosshairs.

The rating agency expects a 'sudden and severe decline in the city's sales and income taxes' as a hit to the city's budget and economy from the coronavirus crisis.

To help state and local governments after the COVID-19 pandemic, Cumberland Advisors is proposing a new municipal security.

The plunge of the financial markets amid COVID-19 stands to push up pension costs — and budget strain — for the city.

Nicole Gelinas from the Manhattan Institute discusses the economic blows to New York City and the MTA from the pandemic, and options available. Paul Burton hosts the program, recorded one week ago.

The Citizens Budget Commission is calling for far larger cost cutting and predicts that New York City could see $20 billion of lost revenues over three fiscal years.

The rating agency, citing severe ridership drops from COVID-19, dropped its rating to A-minus from A. It assigns a negative outlook.