3 Min ReadThe rush to unload mortgage-backed securities signals that a credit meltdown that began with corporate bonds is spreading to other corners of the market.
2 Min ReadAs lawmakers scramble to enact coronavirus relief legislation, some industry groups have suggested Americans could be in for “one of the greatest economic disruptions since the Great Depression.”
4 Min ReadSenate 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.
2 Min ReadThe Federal Reserve committed Monday to conducting more asset purchases of Treasury securities and mortgage-backed securities and announced $300 billion in new financing for credit facilities.
1 Min ReadAccommodations for borrowers affected by the coronavirus pandemic, such as payment delays and fee waivers, are "positive and proactive actions that can manage or mitigate adverse impacts," the regulators said.
4 Min ReadThe 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.
4 Min ReadSome market professionals were quick to say that the step would not be sufficient to soften the blows hammering the wider muni market.
1 Min ReadThe central bank said its program to support money market mutual funds will also serve as a backstop for state and local governments.
3 Min ReadThe Fed must set up a "family financial facility" that sends billions to households and small businesses so banks don’t misdirect relief funds.
8 Min ReadLipper 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.
