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Municipal Industry Commentary

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MBS basis cheapness – Not just about returning to “normal”

There is widespread recognition in the MBS market that spreads are historically wide, especially compared to the post-GFC history. That...

The Bond Buyer: Munis mixed ahead of billion dollar Michigan, NYC TFA deals

“For those hoping things will be quiet on the [Federal Open Market Committee], or Fed front they can think again,”...

The Bond Buyer: Alarm sounds over the tax exemption

Citing rising U.S. debt to GDP ratio and climbing interest rates, a call to action for the public finance community...

Save the Tax-Exemption, A Call to Action for U.S. Public Finance

A convergence of risk has the potential to result in the elimination of new tax-exempt municipal bond issuance. For the...

VIDEO: Asset TV – What the Fitch Downgrade & Historically High Rates Mean for Munis

Interest rates are at the highest levels in more than two decades, Fitch downgraded the U.S. sovereign rating to AA+...

August 2023 Muni Minute: Fixed Income Confronts “Higher for Longer”

For the second consecutive month, yields on treasuries and municipals moved in opposite directions. In the treasury market, investors seem...

The Bond Buyer: Munis largely ignore Fitch downgrade, but wider economic impact unclear

Due to the market being in a different landscape than 2011, which was still dealing with the effects of the...

The Bond Buyer: July issuance falls 8%, YTD issuance down 16%

“One of the big reasons this issuance is so low this month is because we had the [Fourth of July]...

The Bond Buyer: Large primary prices amid steady secondary

So far, timing and the Federal Reserve Board are both chief drivers of activity in the municipal market in the...

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