Coronavirus

Coronavirus-led fears are leading investors, particularly retail, to cash once again amid uncertainty surrounding how much and what maturities of municipal bonds the Fed will purchase once its program begins.

Federal Reserve Bank of Boston President Eric Rosengren said the roll-out of a new lending program for small-and-medium-sized U.S. companies may still be “another couple” of weeks away.

The nation's second-most-populous county is factoring in a recession as it runs fiscal models on COVID-19's impact and is banking on federal aid for hospitals.

Lawmakers missed a March 31 deadline to pass an on-time fiscal 2021 spending plan and officials said that the finalized budget might have $10 billion less in state funding to account for expected losses in tax revenues.

The package calls for reinstating advance refunding, Build America Bonds and tax credit bonds.

Ron DeSantis says he won’t trim or sign the 2021 state budget yet, but on Wednesday issued a statewide order limiting movement to essential services.

In a letter, three issuer groups made specific recommendations to the Federal Reserve and Treasury.

To help state and local governments after the COVID-19 pandemic, Cumberland Advisors is proposing a new municipal security.

The agency placed its ratings on the MTA’s Triborough Bridge and Tunnel Authority general revenue bonds and subordinate revenue bonds on watch-downgrade.

Moody’s revised its outlook on the NCAA's Aa2 rating to negative from stable, an action that impacts less than $10 million of debt.

The primary market remained mostly on the sidelines with issuers slow to jump back into coronavirus-driven volatility while also awaiting Fed engagement.

The city, smarting from two new negative rating outlooks, says it can change the competitive deal's timing or reject bids if the market turns against it.

Municipal bond issuance was $67.88 billion after the first two months of 2020 and was on pace to easily eclipse the $400 billion mark — then COVID-19 completely turned the market upside down.

The CARES Act gives the Federal Reserve and Treasury up to 10 days to begin purchasing municipal securities in the secondary market.

So far there have been over 200 COVID-19-related disclosures, according to Diver by Lumesis, a financial technology company.

The plunge of the financial markets amid COVID-19 stands to push up pension costs — and budget strain — for the city.

Nicole Gelinas from the Manhattan Institute discusses the economic blows to New York City and the MTA from the pandemic, and options available. Paul Burton hosts the program, recorded one week ago.

A more measured tone settled in on Monday as new deals begin to price in a coronavirus-weary marketplace. Municipal credit is beginning to come into focus.

Actions by the Fed and the passage of the CARES Act have served to calm the markets to a large degree during the recent choppiness. These actions will ease the way for some deals to come to market this week.

After seven months of surplus revenue, Arkansas seeks to avoid a deficit due to coronavirus fallout.