Muni Buy-Side Amid Policy Changes & Alternative Investors

The municipal market has gone through several volatile years and the first half of 2025 continues to bring shifts to the landscape. From tariffs to taxes and smaller grant programs and funding cuts, the credit landscape is shifting for issuers across the country. How are new players and alternative investors entering the muni space amid these changes and how is it shifting the investment landscape? And most importantly, why should the industry be paying attention?