Washington

The transition away from Libor presents challenges for small issuers with fewer resources to evaluate legacy contracts.

Triple-A benchmarks were cut two to six basis points across the curve with the largest moves concentrated again on bonds inside 10 years, underperforming Treasuries once again.

Pat Toomey, the top Republican on the Senate Banking panel, questioned the backgrounds of President Biden’s Federal Reserve picks amid a brewing conflict over diversity at the central bank and its role in dealing with climate change.

The Federal Highway Administration has acknowledged it lacks the authority to tell states how to spend federal infrastructure dollars, AASHTO said.

Industry advocacy groups want uniform rules that enhance clarity and common understanding without adding complexity or liability.

John Hallacy of John Hallacy Consulting LLC sits down with Chip Barnett to talk about what the municipal bond market will face in 2022. He discusses inflation, new issuance volume, and the future of infrastructure this year amid the lingering effects of COVID and Omicron. (19 minutes)

Munis are expected to underperform for another few weeks as markets remain volatile and investors reevaluate allocations.

Enacting the muni market agenda through Build Back Better remains the top choice, but FY22 spending bills also present an opportunity, said the GFOA's lobbyist.

Acting director for the SEC Office of Municipal Securities Ernesto Lanza spoke about issuer disclosure and Rule 15c2-12, the Commission’s relationship with the MSRB and its efforts improving market transparency.

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.