Muni Think

The $600 million broadband private activity bond program included in the Infrastructure Investment and Jobs Act has often been overlooked in discussions of funding for rural broadband.

Why are markets so sanguine about the interest rate outlook? The answer lies in the Fed’s balance sheet, and in particular the level of excess reserves placed there by commercial banks.

For investors in the municipal bond market, 2021 proved to be a year of hurdles. This is likely to change, particularly for investors in the municipal bond market.

The window of opportunity is open thanks to new projects, new state and city leadership, emerging projects and better systems to benefit travelers.

Municipal market participants need to be vigilant in monitoring liquidity and the impact of growing inflation.

The consequences of climate change for this island state are broadly evident. So is its official response.

Municipal financial professionals have to work with elected leaders to develop better policies to issue more tax-exempt debt in a fiscally prudent manner otherwise the infrastructure investment gap will likely continue to grow.

On Dec. 1, 2021, any municipal advisor firm that has no individual qualified with the Series 54 exam will be out of compliance and referred to the examining authorities for violation of MSRB rules.

The request for comments also asks whether the MSRB should amend the relevant rules or adopt/amend formal interpretive guidance that expressly defines a regulated entity's obligations with respect to new-issue pricing.

Material ESG risks or factors having a nexus to credit or the ability to repay bonds should be disclosed in primary offering documents and, if appropriate, through voluntary disclosure.