President Donald Trump's 90-day tariff pause earlier this month created a healthy amount of market uncertainty, as munis trended downward as recently as April 17. Some firms are
"If the United States were to become a jurisdiction where risks are just structurally higher going forward, that would make us less attractive as a jurisdiction," Powell said.
The two-year ratio Thursday was at 80%, the five-year at 80%, the 10-year at 79% and the 30-year at 93%, according to Municipal Market Data's 1 p.m. EDT read. ICE Data Services had the two-year at 79%, the five-year at 79%, the 10-year at 79% and the 30-year at 94%.
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In March, the Cincinnati, Ohio-based law firm Taft, Stettinius and Hollister added two experts with experience advising public finance matters. Rhonda Skoby and Rachel Lochner joined the firm as a partner and an associate, respectively.Boston-based Nixon Peabody also added to its roster of legal muni expertise with the hiring of Michael Melzer, who has had a hand in billion-dollar refinancings and more.
Dive into recent talent shifts below.
Longtime SEC expert on munis retires
Mary Simpkins, who spent almost 30 years with the Securities and Exchange Commission's Office of Municipal Securities, retired on March 31.Simpkins joined the SEC in 1997, according to a source knowledgeable about her career with the agency, and worked through noteworthy industry events, like the Dodd-Frank Act and many others.
"She has been the backbone of many key decisions and rulemaking initiatives," Ed Fierro, a partner at law firm Bracewell, told The Bond Buyer in an email, adding, he is certain Simpkins' expertise will be missed. "No other person at the SEC has such a deep understanding of the Office of Municipal Securities and its evolution. Her institutional knowledge, experience and securities law expertise are irreplaceable."
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Barclays sees outflow of muni talent
Dan Rourke, Joshua Prell and Keith Fell, all municipal bond professionals working at Barclays, are leaving the bank.
Prell, director of muni sales, and staffer Fell have already left, but Rourke's departure to work in FMSBonds' institutional sales department isn't slated for some time, according to Joe Koltz, president of FMSBonds.
Barclays has served as lead underwriter on a few large deals so far in 2025, including the Department of Airports of the City of Los Angeles' $1.534 billion deal on behalf of the Los Angeles International Airport; the state of Hawaii's
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New interim head of state, local finance division for North Carolina
Jeff Poley was named interim North Carolina State and Local Government Finance Division director while the search for a full-time replacement begins.
Poley is tasked with assisting the state and more than 1,100 local government organizations in overseeing debt repayment, counseling, assisting in the issuance of debt and other responsibilities. Poley expressed he does not wish to occupy the role full time.
"[Poley] has worked in the local government realm for decades here in North Carolina and was able to harness those relationships to get the loans [
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Taft, Stettinius and Hollister adds two public finance experts
Rhonda Skoby and Rachel Lochner are two new additions to Taft, Stettinius and Hollister's public finance practice.
Skoby joins the firm as a partner following a 10-year tenure with Dorsey & Whitney, while Lochner will step into an associate role following her time with the Minnesota Housing Finance Agency as a tax credit and finance attorney.
"We are thrilled to welcome Rhonda and Rachel to Taft, as they are an excellent fit for our team, bringing extensive experience in navigating a wide range of complex public finance transactions and issues," Catherine Courtney, a partner at the firm and head of its public finance practice in Minneapolis, said in a statement.
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Nixon Peabody adds Michael Melzer as Chicago-based partner
To help Nixon Peabody's Chicago division navigate market nuances, like capital backlogs and local dynamics, the firm has recruited Michael Melzer as a partner.
Melzer joins the firm after a 17-year stint with Katten Muchin Rosenman, and has worked on noteworthy deals, such as the $1.6 billion One Bryant Park refinancing in Manhattan, the
"I have a lot of civic pride, and I believe this is going to be a beneficial change for a lot of the primary service providers to the city of Chicago," Melzer told The Bond Buyer. "I think it's going to be a strengthening of the municipal finance field here."
