In an unprecedented move, the Federal Reserve on Sunday cut rates to near zero.
Uncertainty still abounds for the public finance space, as just before the market close, President Trump declared a national emergency. Meanwhile, states and cities across the country are closing schools, sporting events, and cutting back public transit. But Friday, at least, provided some reprieve from the five previous volatile days.
Nuveen, Friedlander, BofA offer some recommendations on COVID-19 credit and sector impact.
Cities and states that rely on hotel taxes and tourism-related revenues will lose billions as events and attractions shutter to slow the spread of COVID-19.
Consumer worries over the virus' spread dampened enthusiasm early this month.
How severe a financial hit New York City will take during the COVID-19 pandemic is as much of an unknown as the degree of virus spread.
Other Midwest legislatures are canceling sessions or weighing early spring breaks to slow the spread of COVID-19.
Career veterans call fallout from COVID-19 concerns on the municipal market worse than that of 9/11 and the 2008 financial crisis combined.
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Uncertainty still abounds for the public finance space, as just before the market close, President Trump declared a national emergency. Meanwhile, states and cities across the country are closing schools, sporting events, and cutting back public transit. But Friday, at least, provided some reprieve from the five previous volatile days.
March 13 -
Nuveen, Friedlander, BofA offer some recommendations on COVID-19 credit and sector impact.
March 13 -
Cities and states that rely on hotel taxes and tourism-related revenues will lose billions as events and attractions shutter to slow the spread of COVID-19.
March 13 -
Consumer worries over the virus' spread dampened enthusiasm early this month.
March 13 -
How severe a financial hit New York City will take during the COVID-19 pandemic is as much of an unknown as the degree of virus spread.
March 13 -
Other Midwest legislatures are canceling sessions or weighing early spring breaks to slow the spread of COVID-19.
March 12 -
Career veterans call fallout from COVID-19 concerns on the municipal market worse than that of 9/11 and the 2008 financial crisis combined.
March 12