The Impact Of The Pandemic And The Feds Muni Program On Illinois Muni Yields
We estimate a simple model in which variations in Illinois daily municipal bond yields are explained by high-frequency indicators summarizing economic and public health conditions in Illinois, as well as key changes in the Federal Reserve’s Municipal Liquidity Facility (or MLF). We find that the MLF appears to have reduced Illinois muni yields by more than 200 basis points.
The Covid-19 pandemic put finances of states and municipalities across the country under severe stress. This stress derived both from reductions in revenues associated with lower economic activity and increased demands on public health and social safety measures. State and local governments have received substantial federal support through the CARES Act. They have arguably also benefited from the establishment of the Federal Reserve’s Municipal Liquidity Facility (MLF) - announced on April 9 to address the liquidity needs of municip
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Apple Pay has now become a viable method of payment to New York’s Metropolitan Transportation Authority (MTA), with payment terminals installed at all subway and bus stations across the five boroughs.
Back in March 2019, Apple announced that cashless transactions via Apple Pay would soon be coming to transit systems in a number of major U.S. cities.
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The MTA first started experimenting with Apple Pay at select terminals across the city almost 18 months ago, and the corporation has now implemented Apple Pay availability across all of its subway lines and bus routes through the One Metro New York (OMNY) system.
Each day the pandemic brings new mixtures of hope and dread: new reports on the vaccine rollout, new and dire accounts of surging cases and deaths. And threading through this
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The Oxford-AstraZeneca vaccine has been approved by the UK medical regulator. so could it be a game-changer? We ask Penny Ward, Visiting Professor in Pharmaceutical Medicine at King’s College, London.
Plus we hear from Evan Spiegel, the creator of Snapchat, about the idea behind his app sensation. New York’s Metropolitan Transportation Authority, the MTA, is in trouble. Many people are shunning public transport in the city because of the coronavirus pandemic and passenger numbers are down by more than 70%; we hear from workers on New York s transport system. And the BBC s Elizabeth Hotson looks at how food outlets have been adapting to the covid challenge.