Investments

The 2017 Tax Cuts and Jobs Act continues to influence the composition of the municipal bond market.

“Anybody who’s having an event between now and May is considering what to do about it,” said Mike Nicholas, CEO of the Bond Dealers of America.

Michael Zezas, managing director of research at Morgan Stanley, notes that muni yields have not fallen as quickly as the Treasury equivalents and recession risk climbs the longer the coronavirus persists. Layer on top of those items the incipient oil competition and quite a storm is brewing. Even liquidity is becoming "disorderly." John Hallacy hosts.

Analysts say the development is another sign of financial stress at the beleaguered utility.

The municipal market was hammered Wednesday by the COVID-19 pandemic with a more than quarter point correction in AAA benchmarks, issuers pulling deals off the shelves and more reports of pricing and evaluation confusion.

Benjamin, who is mayor of Columbia, South Carolina, will co-chair the law firm's public finance and affordable housing practices.

Wisconsin's capital finance director says the market offers savings on state bonds he never thought would be refunding candidates.

Congressional offices may decide to minimize or ban face-to-face meetings as virus concerns grow.

The commonwealth plans a $268 million GO sale two days after Gov. Charlie Baker declared a state of emergency.

NAMA believes the order will strengthen protection for issuers in keeping with the recent reforms in the municipal market.

Uncertainty continues to hang over financial markets due to COVID-19. Stocks rebounded somewhat Tuesday while muni yields rose as much as 16 basis points — Tuesday saw a correction of sorts.

Shawnee County, Kan., commissioners on Monday approved issuing $150 million in industrial revenue bonds for a massive new Walmart distribution center to be built just south of Topeka.

Bernie Sanders and Joe Biden are proposing to spend hundreds of billions of dollars that would require the support of lawmakers in both chambers of Congress.

The public agency that owns the city's convention center will consider the expansion project and a financing plan next month.

The Duluth School Board has voted to approve language for legislation that would enable the district to finance the construction of new administrative offices and transportation facilities on the Central High School property.

Port Authority of New York and New Jersey Executive Director Rick Cotton plans to maintain day-to-day operations from home after a positive coronavirus test.

Many businesses have implemented policies to limit non-essential travel, which is likely to have impacted the biennial presentation to municipal bond investors.

Chairman Patrick Foye says that the outbreak has no material effect for now, and the authority promises to continue timely disclosure.

Dan DiSalvo, a Manhattan Institute senior fellow, explains how the state provides a model for tackling other post-employment benefits liability. Paul Burton hosts.

The bond's Official Statement warned not to expect payments on time.