Puerto Rico Oversight Board seeks delay in central government restructuring

Senate Democrats voted as a bloc Sunday evening to stop consideration of an estimated $1.6 trillion relief package because of its perceived shortcomings, including the lack of provisions to assist state and local governments.

The comptroller called for passage of a federal rescue bill and measures to shore up the city budget.

We are desperately trying to establish the bottom at present to provide a modicum of confidence that investors may stop raising cash and would be more inclined to put the cash horde back to work in the market.

The city and state haven't put dollar amounts on what they need but both were already facing budget and pension stresses before the public health crisis struck.

The municipal bond market again sold off as much as a half percentage point across the curve.

The draft released Senate Republicans did not address emergency funding for state and local governments or publicly owned hospitals and airports.

Cost cutting is underway at central Florida's Orlando International Airport due to a steep decline in flights and passengers amid the coronavirus outbreak.