The municipal bond market experienced its seventh straight year of positive performance in 2020, but will the progress toward recovery continue in the second half of the year? For insight, Michael Scarchilli, editor-in-chief of The Bond Buyer, sat down with PNC EVP and public finance head Rob Daily, Hilltop Securities vice chairman and head of public finance David Medanich, and City of Dallas Chief Financial Officer Elizabeth Reich for their viewpoints on the macroeconomic picture and prospects for the U.S. munis market. The panel also discusses how the first two quarters of the year have fared with additional government stimulus programs and the rollout of the COVID vaccine.
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In the remaining days of this year, "taxable rates continue to be pressured but munis are finding a stable, even supportive, bidside," said Kim Olsan, a senior fixed income portfolio manager at NewSquare Capital.
December 24 -
Moody's Ratings said the 2025 budget that passed Chicago's City Council this month won't materially alter the credit profile of the city, which it rates Baa3.
December 24 -
Howard Jarvis Taxpayer Association has until the end of January to file briefs in its case challenging San Jose's pension obligation bond validation.
December 24 -
The Trump administration will bring a shift in infrastructure priorities.
December 24 -
Several metropolitan districts, which finance public infrastructure for housing developments, tapped contingent liquidity for debt service payments this month.
December 24 -
Munis "continued their slide" last week as yields rose an average of 23 basis points across the curve as the Fed Chairman Jerome Powell signaled the Fed will take a "more cautious approach" on interest rate cuts next year, said Jason Wong, vice president of municipals at AmeriVet Securities.
December 23