As I look at the multiple states in the USA, there are many indicators I use to get an idea of where they are at. Two that are helpful:
https://www.treasurydirect.gov/govt/reports/tfmp/tfmp_advactivitiessched.htm This provides a breakdown of the states who have had large outstanding advance balances. It was just updated.
The second is the municipal liquidity facility at the FED. States will try to roll over their debt before they default and we have already seen examples where the FED is buying municipal debt at a lower rate than commercial banks are willing to bid, basically pushing the commercial banks away.
https://fred.stlouisfed.org/series/H41RESPPAADHNWW
https://www.treasurydirect.gov/govt/reports/tfmp/tfmp_advactivitiessched.htm This provides a breakdown of the states who have had large outstanding advance balances. It was just updated.
The second is the municipal liquidity facility at the FED. States will try to roll over their debt before they default and we have already seen examples where the FED is buying municipal debt at a lower rate than commercial banks are willing to bid, basically pushing the commercial banks away.
https://fred.stlouisfed.org/series/H41RESPPAADHNWW
