Southwest

The cities enter a primary municipal bond market prepared to absorb $9 billion of deals this week.

The pandemic's effect on public transportation has revived debate about the role of bicycles, ferries, in-city commuter rail and other alternative modes.

In secondary trading municipals ended weaker after a strong employment report.

The chapter had financial difficulty before the pandemic and wanted to refinance its debt.

Sales tax collections fell 13.2% compared to the same month last year, the steepest decline since January 2010

Cities and counties of fewer than 500,000 are seeing a fraction of the reimbursements for coronavirus spending that their larger counterparts received.

Bond volume was 4.2% lower than it was a year ago but increased from March and April’s low totals.

Even with the news that New York City is looking to potentially borrow $7B through its Transitional Finance Authority as it faces $9B in lower revenues, the market didn’t blink and TFAs traded firmer.

Colorado will continue its highway building with $500 million of certificates of participation, as it weathers its deepest downturn in years.

Credit concern is being lost somewhat in pricing munis and traders said they are looking for alternative benchmarks, even turning to corporates and U.S. Treasuries to price the market.