Latest News COMBINED
Our latest insights on bond market activity and events affecting the investment landscape.
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.
A New Voice at the Fed — What Warsh’s Arrival Means for Bond Investors
Kevin Warsh will be sworn in as the 17th chair of the Federal Reserve this Friday, May 22, in a White House ceremony — and bond investors have good reason to pay attention.
From the Desk of David Loesch | May 14, 2026
April CPI came in at 3.8% year-over-year — the fastest pace since 2023 — and the bond market noticed. Long-dated Treasury yields are pushing toward 5%, the Fed’s internal consensus is fracturing, and the rate-cut timeline the market was pricing just weeks ago has been quietly shelved.
Inflation’s Back with a Bang: April PPI Comes in Far Hotter Than Expected
If markets were hoping for a quiet Wednesday morning, today’s Producer Price Index data had other ideas.
The April PPI figure surged to 1.4% month-on-month — a substantial overshoot compared to the forecasted 0.5% and nearly double the previous month’s reading of 0.7%.
Weekly Insights from DRL
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From the Desk of David Loesch – May 7, 2026
According to data from Bloomberg, investors poured $22.3 billion into municipal bond funds in the first four months of 2026 — the fastest pace of inflows since 2021.
SEC Proposes Shift to Semiannual Reporting
Quarterly earnings reports have anchored market transparency for decades, but that may be changing.
Growth fragile, geopolitical risks press on
The US economy grew at a disappointing pace in the first quarter of 2026. The Commerce Department reported that GDP rose at a 2% annualized rate, just 0.5% above the fourth-quarter 2025 rate.
Municipal Bonds, Fed Policy & What It Means for Your Portfolio
This week brought a confluence of developments that, taken together, strengthen the case for tax-exempt municipal bonds.


