Muni Think

Fundamentally, much of the price inflation we’ve experienced over the past year can be attributed to the trillions of dollars of new money pumped into the economy that’s been looking for a home ever since.

Increasing attention to whether inflation is a problem for the U.S. economy and financial markets isn’t resolved easily by looking at the most recent economic and financial market data.

Issuers should recognize their ability to prepay debt is an extremely important term, and they should consult with their MAs to achieve the most liberal prepayment term consistent with the type of financing they are doing.

Some lawmakers in Washington during infrastructure discussions have proposed repurposing some of the $350 billion of American Rescue Plan Act relief funds allocated to state, local and tribal governments. This would be a mistake.

Reported savings from advance refundings make great headlines, but they come with a concealed opportunity cost: waiting with refunding until the call date is likely to be considerably more beneficial.

Not only do government entities have new federal funds destined to reach them soon, but citizens also are supporting bond elections in record numbers.

The settlement of a matter involving G-13 is the first time a firm has been charged with violating that rule since 2003 and left some wondering if FINRA was using enforcement cases to establish compliance standards.

Obtaining substantial new money for green infrastructure is still difficult, and the more innovative the projects, the harder they are to finance. Environmental impact bonds can help.

Investors who make the leap toward greater use of alternative data will find that the quality and accuracy of their credit assessments will benefit from the use of alternative data when used in place of subjective or qualitative guesswork.

Municipal bonds, issued by state and local governments, finance infrastructure investment and should be the foundation of any modernization package.