Washington

A memo circulated Wednesday by House Financial Service Committee Chairwoman Maxine Waters, D-Calif., suggests that the next wave of federal legislation authorize the Fed to support state, territory, and local debt issuance in response to the coronavirus outbreak.

As the Federal Reserve continues trying to keep markets liquid as the stock market sinks, economic data are showing the effects of COVID-19.

BDA told Fed Chair Jerome Powell that two existing programs could help the muni market overcome the impact of the virus.

The U.S. central bank is weighing whether to expand the scope of its interventions in financial markets being battered by concerns over the coronavirus, Philadelphia Federal Reserve Bank President Patrick Harker said.

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.

Airports have nearly $100 billion in infrastructure debt that requires about $7 billion in airport bond principal and interest payments this year.

Tax-exempt municipal yields rose substantially last week causing the MSRB to take a look at trade data, said John Bagley, MSRB chief market structure officer.

With a significant decline in new infections in China, positive news may be ahead, one expert says.

Authority Chairman Patrick Foye cited plummeting revenue as riders stay home because of COVID-19

The municipal market is dealing with a major liquidity event, with massive short-end selling.