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President-elect’s proposed package of $1.9tn in aid bolsters appeal of even financially stressed localities
Control of US Senate opens possibility of fresh stimulus to plug budget holes caused by coronavirus
Bonds, stocks and currency draw in buyers in a year when everything unexpectedly came together
Fitch has warned pandemic dealing lasting blow to the largest US metropolis
Lenders form committee to push for better deals than those secured at national level
Republican majority keeps its veto on progressive spending and redistributive taxation
The $4tn market looks peaceful, but the real-world financial situation is alarming
Move to rewrite February’s restructuring deal inflames tensions
First loan from $500bn municipal liquidity facility aimed at easing virus impact
Central bank broadens eligibility for $500bn facility as local governments come under strain
US central bank makes politically-charged decision to lend only to large localities
City of San Francisco complains that coronavirus fears have turned market ‘crazy’
Prices of debt sold by cities and states have sunk as funds have made grabs for cash
Local government debt has sold off as cities and states deal with virus outbreak
Coronavirus and financial storms have changed which are the cheapest fixed income relative value products
Yields touch lowest levels since 1950s following 56 consecutive weeks of inflows
Storms brew for US cities as investors wake up to the risks of extreme weather events
Analysts expect further failures as local governments remove support
New mayor Lori Lightfoot unveiled $838m shortfall last week
Electronic bond-trading platform has delivered better returns than Netflix or Amazon
Top policymaking body set to restrict cities and provinces to refinancing existing debt
Move is latest sign of Beijing’s efforts to stimulate growth
Study says investors fail to price in effect of extreme weather on portfolios
Qinghai default highlights difficulty of assessing likelihood of government support
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