GFOA

Nicole Byrd, a senior investment professional at Nationwide Mutual Insurance, will be the National Federation of Municipal Analysts chair for the next year.

The announcement Monday involved last March’s ruling by the First Circuit Court of Appeals on the Puerto Rico Highways and Transportation Authority’s special revenue bonds.

As surface transportation funding is set to expire later in 2020, a new reauthorization could help push muni bond initiatives next year.

Another round of tax legislation is not expected to emerge until the very end of the year after the presidential election or in 2021 after a new Congress is sworn in.

Issuers, bond lawyers, and analysts have all raised complaints about the proposed addition to EMMA.

The proposal would impact the private placement business and may require amendments of MSRB rules.

Some market participants worry about the viability of a key muni advocacy talking point if enough midsize issuers begin to embrace the taxable market.

“The channel doesn’t matter in terms of responsibility for the information,” said SEC Chairman Jay Clayton.

Clayton described the Secured Overnight Financing Rate known as SOFR, as “a good risk free benchmark.”

As the House of Representatives votes to approve next steps in President Donald Trump's impeachment inquiry, the muni market considers the possible impact.