Coronavirus

The U.S. economy went into a defensive crouch as the coronavirus swept through the country.

ICI reported nearly $3 billion of outflows, which is foretelling that coronavirus-driven volatility still lingers even if the muni market has rallied by at least 60 basis points since early-April high yields.

Los Angeles County was entitled to $1.7 billion but will lose $696 million that goes back to the state capital in Sacramento.

Coronavirus takes its toll on business and sales activity around the states and across the nation.

A Florida utility continues to pursue a lawsuit against a public power agency with a stake in the Plant Vogtle project.

The FAA announcement came several hours before the Treasury Department said it has reached loan and grant agreements with major passenger air carriers.

The two active municipal bond insurers insured $4.83 billion in the first quarter of 2020, an uptick from the $3.62 billion of wrapped deals done in the first three months of 2019. The year-over-year increase in the sector is noteworthy given that the primary market was shuttered for weeks in March due to the coronroavirus pandemic.

Starting on March 10, ETF prices consistently diverged from benchmark indices and were underpriced for about 10 trading days before converging again.

The board will "review the MSRB’s organizational response to the COVID-19 pandemic, including measures to ensure the safety of staff and stakeholders."

The pending deal with a Bank of America-led syndicate would enable the commonwealth to draw down needed finds while tax revenues are deferred.

Illinois has spent about $170 million on coronavirus-related expenses so far, and Gov. J.B. Pritzker said more information on the budget impact is coming.

The rating agency cites the decline of tourism following the worldwide spread of coronavirus.

Technical and fundamental concerns surrounding credit and supply could present challenges for the market going forward but participants tepidly welcomed signs of stability.

Skilled nursing facilities and long-term care are deluged by the pandemic, adding financial stress for a sector that issues unrated and speculative grade debt.

Uncertainty remains the only constant regarding the coronavirus pandemic, and two Federal Reserve Bank presidents offered positive thoughts, although no definitive answers.

More than 1,900 out of 2,180 cities surveyed recently by the NLC and U.S. Conference of Mayors are expecting budget shortfalls.

S&P shifted its outlook the Illinois public universities it rates to negative as questions abound over how the state will manage revenue losses.

Due to the coronavirus, a plant in Indiana may not be able to make its bond payments.

Volume is down sharply across the Port Authority of New York and New Jersey's transportation assets since the March COVID-19 outbreak.

The rating agency affirmed its A3 rating of the state's general obligation bonds; the outlook revision affects $35.9 billion of debt.