Coronavirus

Cities and counties of fewer than 500,000 are seeing a fraction of the reimbursements for coronavirus spending that their larger counterparts received.

Tightening spreads and low yields ended the month as demand for municipal bonds is expected to overwhelm $6 billion in volume heading to the primary.

Consumer spending plunged while the Chicago Business Barometer fell in May.

Bond volume was 4.2% lower than it was a year ago but increased from March and April’s low totals.

Gov. Phil Murphy’s $5 billion emergency bond plan to patch revenue gaps caused by the COVID-19 pandemic faces an uncertain future in the state legislature.

The Financial Stability Board issued a statement April 2 affirming that it is sticking with plans to transition away from Libor by the end of 2021.

Gov. Tom Wolf is expected to sign five-month, $26 billion spending plan, intended to buy time to measure the hit from the effects of COVID-19.

Dealer groups supported the MSRB's move, saying it would remove a disincentive to use the Fed's short-note program.

Municipal to U.S. Treasury ratios have been a focus for many participants of late. Historically attractive ratios, low supply, and continued fund inflows are creating some strength in the municipal market.

A report from a University of Illinois task force examining the impacts of COVID-19 lays out projected job, income, and economic activity losses into next spring.