Muni Think

But EMMA will ultimately have to drill into disclosures to provide full transparency

It feels like we have stepped into a new virtual reality in the municipal market. Things are not what they appear to be any more.

With increasing frequency, taxables are issued with a 10-year par call and as will become clear, they are a good deal for the investors.

This low rate/tight credit spread environment forces investment managers to continuously hunt for paths toward unlocking after-tax yields.

A number of fintech firms are creating blockchain-based solutions that are able to deliver capabilities to savvy issuers, investors, and investment banks. Munis could be next.

Although not perfect, this is the type of deal that members of Congress envisioned when authoring PROMESA.

It has become clear that there is a widely held conviction that the property tax is not as fair and equitable as it could be.

While municipal issuers understand investors’ need for timely and interim financial, they face some competing challenges.

NFMA says investors provide access to capital, so the group expects disclosure from issuers in return.

While munis are a focus in the infrastructure proposal, the likelihood of coming to fruition is debatable.