Over the past month, the municipal bond market has shown signs of unprecedented stress and volatility. State and local governments depend upon this market to fund infrastructure like school buildings, roads and airports, as well as to bridge short-run mismatches between receipts and outlays. These bonds
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The coronavirus pandemic, together with the related disruptions in oil markets and the policy responses by many different governments to the crisis — including restrictions, closures and quarantines, impacting a wide range of businesses in different sectors — have contributed to asset market volatility
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The coronavirus has, in a matter of weeks, had a profound impact on the world economy. The economic impacts stem both from the direct effect of those who fall ill and from the measures taken to contain or slow the progression of the pandemic. These effects, operating through both domestic and global
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Climate change is no longer a future threat; some of its effects are already being felt. Rising temperatures are increasing the frequency of devastating weather events as hurricanes, fires, floods, droughts, extreme heat, and extreme cold. In addition to their direct impact on the population, these effects
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Corporate debt has been growing at a rapid pace since the recovery from the Great Recession, and the total value of nonfinancial corporate debt in the United States now stands at or near all-time highs. This has been the source of some concern since excessive debt can lead companies to face financial
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Stock buybacks by the firms included in the S&P 500 index have increased recently, rising from an average of about $135 billion per quarter over the previous three years to over $200 billion per quarter: $800 billion in the first eleven months of 2018 with announced buybacks bringing the figure to
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