Public finance

The mayor cited COVID-19 as a spending priority while cases in his city represent more than one-third of the nation's total.

Assured Guaranty and BAM, the two active muni bond insurers, released statements Monday saying they are prepared and able to manage impacts of COVID-19.

New York MTA and 10 other transit systems have cited the crippling effects of ridership drops due to COVID-19.

The funds will be in addition to the $160 million from the Emergency Reserve Fund that the board released March 12.

The Fed today added in variable rate demand notes to other short-term municipal debt to a list of assets eligible to be used as collateral by financial institutions, which contributed to some stability in the secondary market.

The timing of a $1.5 billion deal California had planned to price Thursday is no longer firm amid massive dislocations in the markets.

The municipal bond market is facing a new reality as yields rise, issuance slows and investors remaining skittish about the future.

A big New York State Empire Development Corp. private placement is likely to be followed by more until the municipal primary starts functioning again.

The comptroller called for passage of a federal rescue bill and measures to shore up the city budget.

The city and state haven't put dollar amounts on what they need but both were already facing budget and pension stresses before the public health crisis struck.

The municipal bond market again sold off as much as a half percentage point across the curve.

Judges said the district court judge was reasonable in her treatment of the case differently from that of a corporate bankruptcy.

Cost cutting is underway at central Florida's Orlando International Airport due to a steep decline in flights and passengers amid the coronavirus outbreak.

The authority, which tapped its $1 billion credit line and received a warning shot from Moody's, says COVID-19 is a disaster that requires a national response.

Barber and Amoroso will work together during a temporary transition phase.

Lipper reported a whopping $12.2 billion of outflows from municipal bond funds. Out of that huge number, $5.3 billion were from high-yield funds. The $12 billion figure of outflows in one week equates to about 3% of annual municipal volume.

Schools in 39 states had closed by Wednesday.

Local issuers in Texas also received authority to postpone bond measure elections that are slated for May.

Puerto Rico Gov. Wanda Vázquez Garced issued an order for all residents except a few classes of essential employees to remain at home.

Benchmarks showed again that the short end was being hit hardest — 30 basis points up on the one-year and at least 10 up on the long end, but the entire curve was being cut drastically. The primary market was again at a standstill.