Southwest

The primary supply for the holiday-shortened week is projected to dip to just over $4 billion, with a mix of tax-exempt and taxable issuance led by Colorado’s $500 million of certificates of participation.

Denver International Airport plans to apply up to $560 million of existing bond funds to accelerate a gate construction project.

New Mexico is expected to face sizable structural deficits because of declining oil and gas prices and production, the rating agency said.

The primary was up and running Monday with Connecticut’s $850M offering for retail while many Texas issuers were active on the heels of the Fed news that it is open for business for munis.

The system is managing the pandemic's impact on its campuses and hospitals, as well as a drop in the price of oil, which supports it financially. Neither situation is expected to shake its rating strength.

Uncertainty and volatility have caused a bifurcated market when it comes to credit, and widespread disparity between high-quality and high-yield is complicating matters for issuers.

Yields on all triple-A benchmark curves out to nine years are now below 1%. The largest bumps were again on the very short end of the curve. Lipper reported $580 million of inflows.

Oklahoma lawmakers stood their ground after Gov. Kevin Stitt vetoed the budget and diversions from pension funds and transportation.

State officials say Colorado needs to cut $3.3 billion from the budget for fiscal year 2021 after the largest revenue drop in the state’s history.

With its amusement parks and stadiums shut down the city, which is prepping a bond refunding, is bracing for an $18 million hit to tax revenues.