Washington

The Federal Reserve issued a stark warning Friday that stock and other asset prices could suffer significant declines should the coronavirus pandemic deepen, with the commercial real estate market being among the hardest-hit industries.

Analysts and issuers say the Municipal Liquidity Facility is a last resort aimed primarily at lower-rated issuers. But recent deals could prove the MLF’s effectiveness as a backstop.

With retail sales' record decline, budget pain will continue.

Yields on all triple-A benchmark curves out to nine years are now below 1%. The largest bumps were again on the very short end of the curve. Lipper reported $580 million of inflows.

U.S. lawmakers will have to do more to support Americans financially in the coming months, Minneapolis Fed President Neel Kashkari said.

Most observers expect advance refundings and BABs will be included in some legislation enacted this year.

Investors are sending the message that higher-grade, longer-term issuers will fare far better than lower-rated, higher-yield ones amid a focus on credit.

SIFMA released two new model documents to reflect the senior managing underwriter’s role to make standard disclosures as well as its own dealer transaction specific disclosures to keep up with changes to the MSRB's fair dealing rule.

The $3 trillion plan doesn't allow advance refundings or reinstate Build America Bonds

Market participants want the Fed to get the program up and running by the end of this month.