News and Information from Bond Buyer

Fear of a second wave of illnesses will keep economy muted.

Phil Toews, CEO of Toews Corp., talks about all the recent market turmoil and what it means for the municipal bond market in general and high-yield munis specifically. Chip Barnett hosts.

Moody's sees the state's budget woes as posing the most severe strain on the junk-rated district's fiscal prospects

Primary market deals generated strong demand, and municipals were little changed in secondary trading.

Bond lawyer Rebecca Lawrence has joined Ballard Spahr

The bi-state agency can apply to use the Federal Reserve’s Municipal Liquidity Facility, if it chooses.

Public finance groups expressed hope the bill’s introduction will pave the way for consideration of municipal bond provisions.

The ADP employment report was better than expected, but the real test will be Friday's employment report.

All U.S. states will be able to have at least two cities or counties eligible to directly issue notes to the Municipal Liquidity Facility program regardless of population.

Illinois did not use its maximum amount of notes in the Fed program which could mean a possible expansion of eligibility for the muni program.

Comptroller Kevin Lembo forecast a $620 million fiscal 2020 deficit in his monthly update to Gov. Ned Lamont.

Some elder housing borrowers have also drawn on debt service reserves, violated covenants, or sought to restructure their bonds, said Moody's Investors Service.

Illinois said Tuesday it signed an agreement for the Municipal Liquidity Facility to purchase its one-year certificates. Closing is expected Friday.

Moody's action on Aa1-rated Nevada follows a Fitch Ratings outlook cut to negative three weeks ago as the coronavirus hammers a tourism based state economy.

The fragility of the economy amid protests and the continuing coronavirus threats have dealers unloading some risk.

The Wisconsin Center District deal provides some expansion financing and near-term debt relief after the agency was stung by lost conventions and tax revenue.

Wisconsin officials are still assessing the potential impact on its general fund revenues.

Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.

The Supreme Court's decision will lead to federal consideration of who should serve on the Oversight Board for the next three-year term.

Although voters are dissatisfied with the current administration's response to three crises, turnout is expected to be light.