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Daily report for March 20, 2020.

Lipper reported a whopping $12.2 billion of outflows from municipal bond funds. Out of that huge number, $5.3 billion were from high-yield funds. The $12 billion figure of outflows in one week equates to about 3% of annual municipal volume.

Federal Reserve Bank of Boston Eric Rosengren offered an upbeat assessment in the face of the darkening economic crisis, saying the U.S. can withstand the short-term damage caused by the coronavirus pandemic.

A coalition of healthcare industry organizations is asking for $100 billion in direct federal help, warning that the survival of some hospitals is at stake.

If the Federal government doesn't help, the $12 billion plan could be funded by the city selling "relief bonds."

A memo circulated Wednesday by House Financial Service Committee Chairwoman Maxine Waters, D-Calif., suggests that the next wave of federal legislation authorize the Fed to support state, territory, and local debt issuance in response to the coronavirus outbreak.

Schools in 39 states had closed by Wednesday.

As the Federal Reserve continues trying to keep markets liquid as the stock market sinks, economic data are showing the effects of COVID-19.

BDA told Fed Chair Jerome Powell that two existing programs could help the muni market overcome the impact of the virus.

Dan Aschenbach of AGVP Advisory LLP walks us through the more controversial developments regarding Santee Cooper, JEA, and PG&E. He suggests alternatives are winning but have the issue of reliability to consider. John Hallacy hosts.

The U.S. central bank is weighing whether to expand the scope of its interventions in financial markets being battered by concerns over the coronavirus, Philadelphia Federal Reserve Bank President Patrick Harker said.

Local issuers in Texas also received authority to postpone bond measure elections that are slated for May.

Daily report for Mach 19, 2020.

Puerto Rico Gov. Wanda Vázquez Garced issued an order for all residents except a few classes of essential employees to remain at home.

Benchmarks showed again that the short end was being hit hardest — 30 basis points up on the one-year and at least 10 up on the long end, but the entire curve was being cut drastically. The primary market was again at a standstill.

Worries about the spreading virus prompt a shift to online and phone work.

Questions about the impact of COVID-19 surround the state-run authority, which operates New York City transit and is one of the largest municipal issuers.

Airports have nearly $100 billion in infrastructure debt that requires about $7 billion in airport bond principal and interest payments this year.

Tax-exempt municipal yields rose substantially last week causing the MSRB to take a look at trade data, said John Bagley, MSRB chief market structure officer.

With a significant decline in new infections in China, positive news may be ahead, one expert says.