Public finance

Despite severe budget stress, the city and state can take some meaningful actions, such as reviving the restaurant industry, expanding the role of P3s and rebuilding multi-purpose infrastructure, analysts say.

A stratified credit differentiation can be expected to linger for the foreseeable future until revenue streams in sales-tax and other project-backed bonds are more fully restored. Pension obligation bonds are back in California.

Florida’s attorneys cite flaws and errors in a special master’s report to support overturning its conclusions.

Hard on the heels of last week's successful California sale, the municipal bond market will see some much needed supply head its way this week.

While many new-issues are still on the day-to-day calendar for next week, more are being slated to price on specific days, signaling that dealers and issuers are ready to again test the primary.

In the wake of the COVID-19 pandemic, the city's budget shrinks by $6 billion.

Its series of responses provides a greater understanding of the city’s history, says NYU Wagner's Mitchell Moss.

The secondary market took a backseat to the primary Thursday with yields holding steady while Lipper reported $833 million of inflows, the first since February 26.

One of the nation’s largest transportation borrowers issued its first bond disclosure about the fiscal impacts from the COVID-19 pandemic.

New York's mayor announced sharp cuts, a draw on reserves and a call for further assistance from Washington.

The ruling on the funding of municipal pensions and healthcare will pose a challenge to municipal government finances.

The city faces the loss of $348 million of revenue because of the economic shutdown, threatening the balanced budgets it needs to avoid state intervention.

The coronavirus has shaken the foundation of the municipal market and participants are looking cautiously to the Fed while attempting to adjust to the sustained volatility.

Michael Rowan, CFA, managing director of global public, project and infrastructure finance at Moody’s Investors Service, talks about how COVID-19 is affecting the rating process. John Hallacy hosts.

ICI reported nearly $3 billion of outflows, which is foretelling that coronavirus-driven volatility still lingers even if the muni market has rallied by at least 60 basis points since early-April high yields.

The FAA announcement came several hours before the Treasury Department said it has reached loan and grant agreements with major passenger air carriers.

The pending deal with a Bank of America-led syndicate would enable the commonwealth to draw down needed finds while tax revenues are deferred.

The rating agency cites the decline of tourism following the worldwide spread of coronavirus.

Technical and fundamental concerns surrounding credit and supply could present challenges for the market going forward but participants tepidly welcomed signs of stability.

The appellate ruling that residents should be eligible for the Social Security Administration program has the potential to help Puerto Rico's economy.