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Benchmark yields fell another 50 to 60 basis points, dropping them more than 1.5% in just four days. Meanwhile, a $450 million taxable new-issue came to market and was eight times oversubscribed.

A shutdown of large public gatherings due to virus's pandemic cost the Manhattan cultural organization its investment grade rating.

Arizent, the parent company of Bond Buyer, has conducted a broad industry survey on both the impact of the crisis and emerging responses. The survey probed continuity efforts and remote workforce enablement as well as planning and investments being pursued against future potential disruptions.

Smith, who headed the restructuring practice at Chicago-based McDermott Will & Emery, worked on nearly every major muni bankruptcy of the past 20 years.

Morgan Stanley, Ameritas Investment Company LLC and a former Stifel broker agreed this week to pay the fines for violating multiple muni securities rules.

Initial jobless claims surged, as expected, hitting an all-time high of a seasonally adjusted 3.283 million in the week ended March 21, as the impacts of the coronavirus-driven closures showed in the numbers, the Labor Department said. The previous high for claims was 695,000 in October 1982.

With outflows occurring, Eric Kazatsky, muni strategist at Bloomberg Intelligence, maintains that muni appetite will vary directly with the credit hits that will be sustained in this environment. In some ways, he sees a return to pricing for the risk and the fundamentals. Taxable munis and ESG bonds will continue to gain in popularity. The future depends on the level of fiscal support in order to emerge from the crisis. John Hallacy hosts. Taped two weeks ago

Ratings for convention center financings and for hotels build to support the venues are under pressure.

Federal Reserve Chairman Jerome Powell said the central bank will maintain its muscular efforts to support the flow of credit in the U.S. economy as Americans hunker down from the coronavirus pandemic.

Daily report for March 26, 2020.

Municipal benchmark yields were lowered by 60 to 80 basis points across the curve. Some trades pointed to nearly a 1% bump on short-term paper while state and local governments grapple with downgrades and revenue shortfalls.

Thirty-six firms made the cut, and eight didn't, when Illinois reviewed broker-dealer qualifications for new underwriting pools.

The Department of Finance told department heads it will be re-evaluating budget requests under a workload budget scenario.

President Donald Trump wants to re-open the U.S. economy by mid-April but Americans may take some persuading that it’s safe to emerge, said Federal Reserve Bank of St. Louis President James Bullard.

In the MSRB’s first report showing data from March 24, trades topped 87,215, which is likely a record, said Marcelo Vieira, MSRB director of research.

With the Federal Reserve bringing the target rate down to the zero lower bound, communication takes on a vital role, and, if used properly, can enhance Fed actions.

Overall $274.231 billion of the coronavirus emergency supplemental appropriations package goes to state and local governments and communities.

Gov. Phil Murphy’s administration places nearly $1 billion of discretionary spending in reserve through the 2021 fiscal year amid economic struggles from virus.

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 Disaster Emergency Funding Board, authorized in 1973, will consider Gov. Gina Raimondo's request for up to $300 million short term borrowing.