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Bond-financed bridges across the Rio Grande will lose revenue because of the partial closure of the border, as will the Texas economy.

Puerto Rico Oversight Board seeks delay in central government restructuring

Senate Democrats voted as a bloc Sunday evening to stop consideration of an estimated $1.6 trillion relief package because of its perceived shortcomings, including the lack of provisions to assist state and local governments.

The comptroller called for passage of a federal rescue bill and measures to shore up the city budget.

We are desperately trying to establish the bottom at present to provide a modicum of confidence that investors may stop raising cash and would be more inclined to put the cash horde back to work in the market.

Daily report for March 23, 2020.

The city and state haven't put dollar amounts on what they need but both were already facing budget and pension stresses before the public health crisis struck.

The municipal bond market again sold off as much as a half percentage point across the curve.

Judges said the district court judge was reasonable in her treatment of the case differently from that of a corporate bankruptcy.

The draft released Senate Republicans did not address emergency funding for state and local governments or publicly owned hospitals and airports.

Cost cutting is underway at central Florida's Orlando International Airport due to a steep decline in flights and passengers amid the coronavirus outbreak.

The Fed allowing use of munis as collateral in its MMLF program won't fix all the problems caused by COVID-19 and may add issues.

Some market professionals were quick to say that the step would not be sufficient to soften the blows hammering the wider muni market.

The SEC answered questions regarding COVID-19 disclosure in a webinar Thursday and said there would not be relief for issuers' late annual financial filings.

The Medicaid Redesign Team would pare spending on state hospitals by nearly $400 million and projects $1.6 billion in savings overall.

The central bank said its program to support money market mutual funds will also serve as a backstop for state and local governments.

The majority of the economic disruption will occur in fiscal 2020, but the revenue impacts will extend into the first half of fiscal 2021, says Moody's Analytics Dan White.

A Senate bill to be introduced Friday would allow the Federal Reserve to purchase municipal debt, in an effort to ease the economic strain of the coronavirus pandemic on state and local governments.

The authority, which tapped its $1 billion credit line and received a warning shot from Moody's, says COVID-19 is a disaster that requires a national response.

Barber and Amoroso will work together during a temporary transition phase.