Muni Think

The legal argument made against revenue bonds just doesn't make sense in the market-based world.

The standard measure of interest rate risk is effective duration; it is the critical input to portfolio-based hedging.

Unlike any other asset class, baring default, the prices of fixed income instruments will necessarily converge to their par values at maturity.

The question is clear for municipal professionals: what is our legal duty to investors with respect to climate change?

As the oldest mass transit authority in the country, the Massachusetts Bay Transportation Authority (MBTA) has a history of innovation.

Federally funded infrastructure programs are critical. Sometimes they are the only viable means for infrastructure investment for certain projects.

By reducing debt service expenses with advance refundings, issuers were able to free up borrowing capacity for new investments.

The BDA believes that in addition to removing the Rule’s restriction on competitively bid transactions, it should consider simply eliminating it altogether.

It is budget-balancing time across the land and, as is typical, New Jersey has unique challenges.

The gains are putting to rest speculation that tax reform would hurt high-tax, Democratic-leaning states.