Bracing for the Worst; the Coronavirus Market Effect
Officials from the Center for Disease Control (CDC) urged the public to prepare for the inevitable spread of the coronavirus (COVID-19), warning that “it’s not a matter of if, but when” COVID-19 spreads throughout the U.S. The dire warning from the CDC, along with the rapid spread of the virus in South Korea, Italy, and Iran has rattled the financial markets. We also review a few of the municipal sectors that could be potentially impacted by the financial slowdown and other elements attributed to the COVID-19 outbreak. The end effects could be considerably higher to U.S. municipal credit if there ends up being a sizeable outbreak in the U.S.