Muni Think

Political uncertainty will elevate bond price volatility for those issuers more dependent on fiscal support. Still, the broader market will benefit from support for education, transportation, and healthcare sectors.

Responsible, limited changes in the tax code and IRS regulations could go a long way toward economic recovery where needed most to deal with the pandemic.

The effects of COVID-19 on Puerto Rico are severe and the island's capacity to repay its debt has changed. The Oversight Board's objectives in the debt-restructuring process, however, have not.

Our municipal impact strategy will continue to refrain from investing in school districts that are not actively, urgently and aggressively acting to identify and thwart violence against students.

Lack of female representation is a systemic issue in the financial services industry, made worse by COVID-19. We should use these pandemic lessons to balance scales that have been tilted for much too long.

While no FOMC action on monetary policy is expected, markets are watching for how the Federal Reserve partners with the Biden administration and how it reacts to the 10-year Treasury yield rising from 0.52% on Aug. 4 to 1.15% on Jan. 14.

Following a thorough analysis of available EMMA filings, it is clear that PFA-financed projects account for less than 3% of the 700 plus total unique payment defaults posted to EMMA during the last three years.

Donald Trump's departure from the White House will do little to heal the rift between the right and left, but this is still the best chance muni advocates have had in many years.

A new period of social liberalization and economic excess could emerge by 2022, leading to inflation and a return to higher interest rates.

From the Centennials to the COVID generation, the municipal market's demographics will change dramatically in the next decade as will the way investors view investing in munis.