Public finance

The market isn't facing 50-basis-point swings, but its footing is still off as participants grapple with the long-term effects of the pandemic. New deals are getting pulled and New York Power is about to issue bonds maturing in 2060.

Illinois tentatively plans to sell $1.2 billion of certificates next week and $1 billion of bonds the following week.

The utility envisions a digital power grid and clean energy transmission, with this sale setting the stage.

The ultimate impact of the bear market on pension risks is likely to vary widely among issuers, making granular analysis more important and valuable.

William Glasgall of the Volcker Alliance explores deficits, budget cuts, rainy-day funds and borrowing options amid the COVID-19 pandemic. Paul Burton hosts.

Issuers bringing taxable deals this week should see robust buying interest as the strong performance of the corporate market has pushed yields down, making double-A taxable municipal bond yields attractive for corporate investors in the 21% tax bracket.

The system's offering statement presents a detailed picture of the pandemic's impact so far.

The municipal bond market will see more supply hit the screens this week as buyers await much needed issuance and sellers hope for improved liquidity.

For the second time in two weeks, a rating agency lowered the Port Authority of New York and New Jersey's outlook.

The large Illinois county says it's too early to say how it will close its more than $200 million gap, but it has reserves and is lobbying for federal relief.

Rate volatility is still evident on the buy side of the municipal market as bid wanted lists reflect redemptions or portfolio restructuring by investors, analysts said.

Size, timing and structure hinge on market variables, senior manager Jefferies said.

The municipal market kept with a cautious tone on Thursday as the new-issue market continues to digest deals.

Mayor Eric Garcetti declared a state of fiscal emergency when he delivered his budget proposal for fiscal 2021.

Debt restructuring options as the transit agency navigates through the coronavirus crisis include refundings for savings or to push out debt, according to Robert Foran.

Bryan Garcia and Eric Shrago of the Connecticut Green Bank, explain how “Green Liberty Bonds” will expand clean energy investment. The small-denomination munis for retail, modeled after the World War II Series E bonds, are independently certified to fight climate change. Chip Barnett hosts.

The state applied the green designation to the $80 million deal, but didn't obtain third party verification.

The municipal market saw a plethora of deals come in while secondary market trading showed some weakness on AAA benchmarks.

Swain says the challenge would be considered in two stages.

Senate Majority Leader Mitch McConnell said Wednesday he favors allowing states struggling with high public employee pension costs amid the burdens of the pandemic response to declare bankruptcy rather than giving them a federal bailout.