US News
Instant View: Mnuchin Asks Fed to Return Money for Emergency Lending
"Investors have banked on the MLF (Municipal Liquidity Facility) being a reliable, emergency lender to our (municipal bond) market’s core borrowers. It has taken the idea of a payment default or catastrophic budget problem off the table. Without the MLF, the market won’t collapse, but it will lack some resilience if its tested by a selloff or more pronounced credit fears."