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.
A coalition of healthcare industry organizations is asking for $100 billion in direct federal help, warning that the survival of some hospitals is at stake.
If the Federal government doesn't help, the $12 billion plan could be funded by the city selling "relief bonds."
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.
Schools in 39 states had closed by Wednesday.
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.
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A coalition of healthcare industry organizations is asking for $100 billion in direct federal help, warning that the survival of some hospitals is at stake.
March 19 -
If the Federal government doesn't help, the $12 billion plan could be funded by the city selling "relief bonds."
March 19 -
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.
March 19 -
Schools in 39 states had closed by Wednesday.
March 19 -
As the Federal Reserve continues trying to keep markets liquid as the stock market sinks, economic data are showing the effects of COVID-19.
March 19 -
BDA told Fed Chair Jerome Powell that two existing programs could help the muni market overcome the impact of the virus.
March 19 -
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.
March 19