Market Insights
Our latest insights on bond market activity
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.
From the Desk of David Loesch – August 13, 2026
This week’s data leans one direction: cooling. Core CPI matched the slowest annual pace since March 2021 at 2.5%, and nonfarm payrolls fell by 23,000, with a net 103,000 jobs cut from May and June estimates.
From the Desk of David Loesch — August 6, 2026
NYC dodges a downgrade. Here’s what that means for your muni portfolio.
Read our latest musings about actions and events affecting the investment landscape.
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.
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.
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.
From the Desk of David Loesch – July 2, 2026
Municipal investors are entering the summer with their most favorable technical backdrop in months.
From the Desk of David Loesch – June 25, 2026
Something that seemed months away has now arrived: a formal ceasefire framework between the United States and Iran, and with it, a meaningful shift in the macro backdrop investors have been navigating since February.
From the Desk of David Loesch – June 11, 2026
May’s nonfarm payrolls came in at 172,000 — the strongest three-month advance in more than two years — and the unemployment rate held steady at 4.3%.
From the Desk of David Loesch – June 4, 2026
The municipal bond market ended May with something more valuable than a headline return: proof that demand is durable.
From the Desk of David Loesch – May 28, 2026
Investors are buying munis into the spike. Here’s what’s driving it.The SignalSomething unusual is happening in the municipal bond market.Yields have climbed sharply since the Iran conflict began — and yet investors keep buying. Muni funds have attracted more than $38...