Public finance

Without more fiscal support, the outlook becomes murkier with the possibility of economic data disappointment and volatility in rates, and historically muni demand dampeners, Morgan Stanley said.

Mayor Bill de Blasio expanded furloughs to all managerial and non-represented employees while City Hall also faces an alarming coronavirus spike in some neighborhoods.

Breckinridge Capital Advisors’ Rob Fernandez, Director of ESG Research, and Andrew Teras, Senior Vice President, talk about how climate change can impact the municipal bond market as the country faces increased risks from coastal flooding, wildfires and drought. Chip Barnett hosts (24 minutes)

Accurate obligor identification can allow any matrix-based bond evaluation system to improve pricing accuracy and reduce manual intervention by pricing analysts, the firm said.

The city's use of reserves to manage past deficits drove a two-notch downgrade from S&P Global Ratings, to A from AA-minus.

ICI reports another $2 billion inflow week while new issues fare well. High-grades around the 2026 maturity were trading in large blocks showing stability.

Ann-Charlotte Eliason, head of Nasdaq's Sustainable Bond Network, and Emily Robare, who leads ESG credit analysis for Gurtin, a PIMCO company, talk the current state and future of ESG, social, green and impact investing in munis through the lens of both domestic and international investors. Lynne Funk hosts. (38 minutes).

Chicago's chief financial officer said the city must consider all options given the magnitude of the pandemic in the absence of federal relief for lost revenue.

August and September economic activity has probably been better than that of July, analysts said, however some expect economic activity will resume its decline in October and the following months.

Diverse issuers from NYC to Texas to Chicago to Michigan to PA Turnpikes priced billions into the primary while the secondary again took a back seat.

The Florida Cabinet approved new money and refunding bonds, some of which may be sold as taxable debt with advance tax-exempt refundings no longer possible.

The system took two rating hits over its rising debt levels and strained balance sheet metrics as it readies a $354 million borrowing.

Rates remain stagnant even as UST rallied Monday. Large deals from NYC and Texas issuers are on deck for Tuesday.

The aid includes $9.6 billion for the Puerto Rico Electric Power Authority to repair and rebuild the electrical grid and $2 billion for the Puerto Rico Department of Education.

A $3.3 billion budget proposal from County Executive Laura Curran hinges on refinancing outstanding bonds through triple-A-rated Nassau Interim Finance Authority.

Feeling the revenue hit from the coronavirus, the commission has received state approval for a second delay in $112.5 million quarterly transit payments.

Treasurer Shawn Wooden, the country's only Black elected state treasurer, spoke about diversity and inclusion to the Northeast Women in Public Finance.

On Friday, municipals finished little changed, with yields remaining steady along most of the AAA GO scales.

The new-issue market saw deals from Houston, the Illinois Finance Authority and the City and County of San Francisco, Calif., hit the screens.

City leaders are evaluating layoffs, raise deferrals, leasing city assets and postponing construction projects.