Coronavirus

Former Federal Reserve Chair Janet Yellen said depending on how widely the coronavirus spreads, the economic impact could have a significant impact on Europe and veer the U.S. toward a recession

Municipal bond yields were unchanged at record low levels, according to late reads.

Attention is focused on the impact COVID-19 may have on economic growth in the United States in the short and long term.

It is “still too soon” to say whether the coronavirus outbreak will cause a material change in the U.S. outlook, said Federal Reserve Vice Chairman Richard Clarida, signaling officials won’t be rushed to judgment on the need to cut interest rates.

As COVID-19 fears run rampant, investors continued to sell off equities, resulting in muni yields again following Treasury yields down to all-time lows.

Federal Reserve Bank of Cleveland President Loretta Mester said the worsening coronavirus outbreak represents a threat to the U.S. economy, but not one that yet justifies any change in monetary policy.