Market Insights
Our latest insights on bond market activity
Rising Fed Tensions Add Volatility Across Markets
The feud between President Trump and Powell continued yesterday in Davos. Trump indicated Powell would not “enjoy” his tenure if he stayed on the FED Board after his term as chair expires. We all know Trump wants to replace Powell and is pressing for lower rates. We...
Repricing the Fed: Rate Cuts Deferred, MUNI Demand Holds
Fund flows: Investors added $1.25 billion from municipal bond mutual funds in the week ended Jan. 7, 2026, according to the Investment Company Institute.
MUNI Market Update: Record Supply, Stable Yields, and Rate-Cut Debate
American public schools went on a borrowing binge in 2025, marking the sector’s biggest year for municipal debt sales in over a decade as dipping enrollment and elevated inflation strain districts’ budgets.
Read our latest musings about actions and events affecting the investment landscape.
Fed Delivers 25bps Cut, QT to End Dec. 1 — MUNIs Steady, Yields in Motion
Zohran Mamdani’s lead in the New York City mayor’s race over former Governor Andrew Cuomo has narrowed less than a week before Election Day, according to a Quinnipiac University poll.
Government Shutdown & Data Void Complicate Fed’s Path Forward
A larger tax on Harvard’s $57B endowment will hurt the school’s ability to address the very problems the US government wants it to focus on.
Muni Yields Set to Move Lower as Fed Signals Cut and Fiscal Risks Rise
• NY Mayoral front runner Zohran Mamdani’s pledge to fund free childcare and bus rides by taxing the rich faces steep odds in Albany NY. But tax hikes may be coming for New Yorkers anyway, regardless of who wins.
Markets in Holding Pattern as Fed Eyes Cuts & Government Remains Closed
As we have discussed, MUNIs for September finished strong. Many are calling for the balance of the year to remain firm because most of the record surge in supply is beginning to dry up.
MUNI Market Strength Holds Despite Shutdown; Credit Selectivity Remains Key
We have been discussing Charter Schools for quite some time regarding the credit quality of the underlying. Bondholders who own MUNI debt sold for a TX charter school did not receive their October coupon payment after the school closed its doors. Reve Preparatory...
Record Muni Sales Positive & Negative
The municipal bond market is on track for a record year of issuance which could surpass $500 billion by year-end.
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