Latest News COMBINED
Our latest insights on bond market activity and events affecting the investment landscape.
From the Desk of David Loesch – September 3, 2026
The municipal market has been caught up in a broader global bond selloff over the past few weeks, driven by rising oil prices and inflation concerns. Treasury yields moved higher alongside munis, and the move was not confined to the U.S.
10-Year Treasury Tops 4.80%
The 10-year Treasury topped 4.81% this week as the bond market continues to signal concern over inflation and rising oil prices and our rising deficit.
Why Tax-Equivalent Yield Matters When Comparing Municipal Bonds
If you’re weighing municipal bonds against other fixed-income options, the coupon rate alone doesn’t tell the full story.
From the Desk of David Loesch – August 27, 2026
Munis’ federal tax exemption is doing double duty this month, keeping borrowing costs manageable for issuers while handing investors some of the highest tax-adjusted yields in years.
From the Desk of David Loesch – August 20, 2026
On Wednesday, the Treasury Department said it would at least double the size of its liquidity support buyback operations for securities in the 10-year to 30-year sector, Secretary Scott Bessent’s latest attempt to rein in long-term borrowing costs from multi-year highs.
Here Today, Gone Tomorrow
Just two weeks after unveiling its buyback schedule for the quarter, the Treasury Department announced Wednesday that it’s doubling — at minimum — the size of its liquidity support buyback operations for securities in the 10-year to 30-year range.
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Treasury Releases Quarterly Auction Schedule
The U.S. Department of the Treasury is offering $125 billion of Treasury securities to refund approximately $96.3 billion of privately-held Treasury notes and bonds maturing on August 15, 2026.
From the Desk of David Loesch — July 30, 2026
The Federal Reserve held rates steady this week, but the vote itself was the story. Three regional Fed presidents — Cleveland’s Beth Hammack, Minneapolis’s Neel Kashkari, and Dallas’s Lorie Logan — dissented in favor of a quarter-point hike.
Warsh Takes The Helm With Clear Message
The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent, in support of the Federal Reserve’s dual mandate, and continuing its policy of maintaining ample reserves in the banking system.
From the Desk of David Loesch – July 23, 2026
Yields moved higher again this week. The 10-year Treasury touched 4.70% as we write this, and munis and corporates followed, pushing prices lower across the curve.
From the Desk of David Loesch – July 16, 2026
Investors placed more than $70 billion in orders for roughly $2.4 billion of tax-exempt bonds this week, one of the largest order books in municipal market history.
IBM – Timing Is Everything
On Tuesday, IBM shares crashed roughly 25%, the worst single-day drop in the company’s history, after pre-announcing preliminary Q2 results that badly missed expectations
From the Desk of David Loesch — July 9, 2026
Fed Chairman Kevin Warsh’s break from forward guidance is looking less like a one-off posture and more like doctrine.
Keeping More of What You Earn: Managing Taxation with Municipal Bonds
Every investor is familiar with the quiet frustration of watching a solid return diminish under the weight of taxes and inflation.
Warsh Reminds Investors Where He Stands on Guidance
Federal Reserve Chairman Kevin Warsh used his appearance with CNBC’s Sara Eisen at the ECB Forum on Central Banking to reaffirm his stance against forward guidance.