Coronavirus

The city has suffered tax and economic blows from COVID-19 but has weathered the impacts with adjustments to its roughly $1 billion budget.

Despite the coronavirus pandemic, Tennessee state revenue collections last month were about $156 million more than the budget estimate.

Hempstead, N.Y., Supervisor Donald X. Clavin Jr., talks about the town’s receipt of $133 million of CARES Act federal funding and the subsequent credit rating upgrade by Moody’s during the COVID-19 pandemic. He speaks about how the town’s conservative budgeting helps bolster its financial position during tough economic times. Andrew Coen hosts (24 minutes).

The companies said the new offering combines ICE Data Services’ expertise in municipal bond pricing and reference data alongside ADP’s aggregated, anonymized and timely HR and compensation data.

Municipals were little changed Monday as participants await the larger new-issue calendar while equities and U.S. Treasuries react to news out of Washington and COVID-19 ravages the globe.

As issuance rose in 2020, so did municipal bond insurance usage, with $34.167 billion wrapped, or 7.5% insured total issuance from almost 5.7% in 2019.

Federal aid and budget cuts could erase Texas's nearly $1 billion revenue shortfall, state Comptroller Glenn Hegar says.

Rhode Island Housing and Mortgage Corp. is coming off its inaugural social bond issuance.

After a dramatic year of pandemic and a record bond proposal, Dallas ISD is taking bids on $274 million of bonds to upgrade schools.

Despite a fiscal blow, Oklahoma landed in a better position than many expected, the treasurer says.

President-elect Joe Biden's cabinet picks include the governor and Boston Mayor Marty Walsh, the latter for Labor Secretary.

The Federal Reserve has returned about $42 billion to the U.S. Treasury, and will soon transfer another $20 billion in excess funds connected to emergency lending facilities that stopped offering new loans last month.

Ross expects 2021 to be another challenging year and plans to work vigilantly with other muni market stakeholders.

Federal CARES Act grants and loans, and bond market access, have helped mitigate the financial damage to hospitals caused by the pandemic.

A new period of social liberalization and economic excess could emerge by 2022, leading to inflation and a return to higher interest rates.

John Hallacy, founder of John Hallacy Consulting LLC, talks about the most important opportunities and challenges the municipal bond market will face in 2021. He gives his estimate on where muni volume may be headed, discusses the possibility of a federal infrastructure program and talks about what to expect under a Biden Administration. Chip Barnett hosts. (Recorded Dec. 22; 22 minutes)

The tax-exempt general obligation bonds were part of a $795 million proposal approved by voters on Nov. 3.

Sources expect funding to be put to use quickly compared to the CARES Act since many cities since stood up programs to provide pandemic related aid to households and small businesses.

The South Carolina Jobs-Economic Development Authority’s RecoverSC program has up to $100 million in total bonding authority.

The Connecticut Housing Finance Authority calls it a roadmap for creating greater opportunities for low- and moderate-income state residents.