Fitch follows Moody's in revising the Empire State's debt to negative from stable.

The MSRB wants to give dealers and muni advisors more time to implement amended rules and interpretive guidance as well as finish professional qualification and supervisory requirements.

Without an effective therapy or a vaccine for the novel coronavirus, the U.S. economy could face 18 months of rolling shutdowns as the outbreak recedes and flares up again, Federal Reserve Bank of Minneapolis President Neel Kashkari said.

Chicago Mayor Lori Lightfoot says city hopes for additional federal help and won't dip into reserves or push off pension payments to manage through coronavirus-induced economic turmoil.

Moody’s revised its outlook on Illinois’ Baa3 rating to negative from stable; a university study warns of a worst-case $28 billion multi-year revenue hit.

The Fed will help the muni market navigate the short-term pain caused by coronavirus via direct purchases of bonds on the short end. However, the Fed will effectively hand off the responsibility to choose winners and losers to state officials, a move the market generally greeted positively.

Democrats proposed an additional $100 billion for hospitals and $150 billion for state and local governments.

South Carolina lawmakers set aside money for the state’s pandemic response but it’s also on hold along with the fiscal 2021 budget.