CARES Act: Impact on Public Financial Markets

By Peter Whitmore and Casey Lekahal

In response to COVID-19 and its impact on the economy, public health, states, local governments, individuals, and businesses, Congress enacted the Coronavirus Aid, Relief, and Economic Security Act, more commonly referred to as the CARES Act. COVID-19 created significant economic and market volatility that continues to negatively impact the municipal bond market.

This advisory includes a summary of two sections of the CARES Act that attempt to stabilize the markets by providing additional liquidity to the public financial system and allocating funds directly to states and certain local governments.

Read the full advisory HERE.