Washington

Breakneck action continued in the primary market as issuers flooded the market ahead of the tax reform vote, in order to get deals closed before the end of the year.

What does the new tax legislation mean for the municipal bond market? Bond Buyer Washington Bureau Chief Lynn Hume and Contributing Editor John Hallacy sort it out. Chip Barnett hosts.

Federal Reserve Bank of Dallas President Robert Kaplan joined other policy makers in cautioning that a flattening yield curve could be sending a warning signal on the U.S. economy that could inhibit the central bank’s room to maneuver.

Market experts see less municipal bond volume next year, far fewer bank loans, new buyers of bonds, and more volatility if the tax bill is enacted as expected.

After Puerto Rico failed to persuade Congress to ease the modified territorial tax system in the tax law, an opportunity zone measure helping the island may be included in a January emergency spending bill.

In an unusually busy Monday, municipal bond issuers tried to beat the clock and complete sales ahead of the impending tax reform.

The threat of tax reform loomed large for firms responding to SIFMA's Municipal Issuance Survey.

Approval of the tax reform bill led the Florida Development Finance Corp. to cancel its Monday meeting to approve a deal for the train project.

The final tax bill released late Friday afternoon saved private activity bonds but advance refunding bonds will disappear.

Low inflation plus a flattening yield curve led to Minneapolis Fed President Neel Kashkari voting against a rate hike.