Washington

GASB said the delay comes in response to a number of requests because of the coronavirus pandemic, with some finance officers asking for up to an extra two years.

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.

The U.S. economy went into a defensive crouch as the coronavirus swept through the country.

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.

Los Angeles County was entitled to $1.7 billion but will lose $696 million that goes back to the state capital in Sacramento.

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

Starting on March 10, ETF prices consistently diverged from benchmark indices and were underpriced for about 10 trading days before converging again.

The board will "review the MSRB’s organizational response to the COVID-19 pandemic, including measures to ensure the safety of staff and stakeholders."

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

Uncertainty remains the only constant regarding the coronavirus pandemic, and two Federal Reserve Bank presidents offered positive thoughts, although no definitive answers.