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

The Fed allowing use of munis as collateral in its MMLF program won't fix all the problems caused by COVID-19 and may add issues.

Some market professionals were quick to say that the step would not be sufficient to soften the blows hammering the wider muni market.

The SEC answered questions regarding COVID-19 disclosure in a webinar Thursday and said there would not be relief for issuers' late annual financial filings.

The central bank said its program to support money market mutual funds will also serve as a backstop for state and local governments.

The majority of the economic disruption will occur in fiscal 2020, but the revenue impacts will extend into the first half of fiscal 2021, says Moody's Analytics Dan White.

The authority, which tapped its $1 billion credit line and received a warning shot from Moody's, says COVID-19 is a disaster that requires a national response.

Lipper reported a whopping $12.2 billion of outflows from municipal bond funds. Out of that huge number, $5.3 billion were from high-yield funds. The $12 billion figure of outflows in one week equates to about 3% of annual municipal volume.