Recovery seen next year, but rates stay low.

S&P cut its outlook on Berwyn, Illinois, GO and securitization bonds to negative over risks posed by the pandemic-induced economic shutdown and recession.

Spoiler alert: Not much. What makes a May Friday a relative oddity is that it was just the first time in 2020 the 30-year UST ended the day unchanged, the second longest span of continuous yield activity since the U.S. government began benchmarking maturities in the late 1970s.

A water advocacy group asked policymakers to create a muni bond short-note program specifically for water utilities.

If additional federal aid is not approved in July, one NLC official predicts there will be “a cratering of local budgets.”

The U.S. labor market has continued to heal at a relatively rapid rate through early June, St. Louis Federal Reserve researchers found, using real-time data that provides a more timely view than official government reports.

Flagship schools in Michigan, Ohio and Iowa made multiple coronavirus-related disclosures in their offering documents.

Many expect this recession, just officially announced Monday, could already be done.