Muni Think

The minutes reveal a number of pros and cons with the approach. It would be wise to have banks only post T-Bills for excess reserves above $20B.

Since the Tax Cuts and Jobs Act, the trend in total bank holdings and the makeup of the universe of bank participants is starting to evolve.

Negative term spread signals growing investor pessimism regarding the economic outlook and mounting risk of deflation.

The criminal behavior must stop, but the recovery must proceed. Indeed, the recovery could get stronger from this recent purge.

Complaints that the SALT deduction only benefits the wealthy ignore its positive effects on school district finances.

If an issuer represents the validity of its bonds to investors at the time of issuance, it is barred from later denying repayment on a claim of invalidity.

Submissions are now open for the Bond Buyer’s fourth class of Rising Stars, an honor which showcases the brightest young minds in the municipal bond industry.

A recent NABL webinar reminded the market that MAs can face liability under anti-fraud provisions of the Securities Exchange Act.

From a fixed income investor’s standpoint, congestion pricing could provide exciting new investment opportunities with relatively high income and moderate risk.

New transportation modes are exposing fault lines in infrastructure investment and local decision-making.