While there are currently many reasons for municipal bond investors to fret, one measure of market sentiment is showing a high level of complacency.
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Two New York members of Congress called them "vulture funds" trying to get "blood out of a turnip" at the expense of Puerto Rico electricity customers.
As the market continues to contend with the surge in issuance, investors still have a significant amount of cash that can be put to work, said Jeremy Holtz, a portfolio manager at Income Research + Management.
SROs "are now being guided by individuals who lack a deep real-world understanding of the markets they oversee," the trade association said in a letter to the House Financial Services Committee.
Record contributions from public employers made up for below-expectation investment returns, according to a report published by the the Equable Institute.
Hays County will appeal a June 23 court ruling that voided a successful GO bond election while it explores issuing alternative debt to fund road projects.
"Most states do not expect to be able to keep key roads and bridges to a state of good repair," said David Draine, principal officer, public sector, retirement systems for the Pew Charitable Trusts.
