Market Insights
Our latest insights on bond market activity
Fed Attacks, Higher Yields, and Confidence Shifts — Is a September Cut Baked In?
• Articles are surfacing about the unprecedented and escalating attacks on the FED from President Trump. The attacks could backfire by hitting financial markets and the economy with higher long-term borrowing costs.
Rates, Risks, and Realignment: Fed Watch Intensifies as Jackson Hole Takes Center Stage
With Jackson Hole this week, we are seeing a lot of news regarding the FED. Most FED officials highlighted inflation risks as outweighing concerns over the labor market at their meeting last month.
Brightline Faces Record-High Yield Amid Debt & Ridership Struggles; MTA Earns Upgrade
• Brightline, the private rail line linking Orlando to Miami, refinanced $985M of junior debt at a record-high 14.89% yield, reflecting deep investor concern after delaying a July interest payment on $1.2B in munis.
Read our latest musings about actions and events affecting the investment landscape.
How Did We Get Here? Tariffs.
Duration: 5:49
Transcript: We’re really questioning how did we get here from the standpoint of: we’re sitting here in April post-tariff announcement and then, again, a retraction of that tariff announcement just days later.
Nobody Has A Crystal Ball
Duration: 2:52
Transcript: So there’s an old saying out there, no one has a crystal ball. Right? Your plan is still your plan. If you’re one of our clients, whether whether you do business with us or not, you’re watching this and you’re looking at this going, okay. What exactly should I do? What should I expect?
Political Backing, Bargain Yields & Historic Trading Surges Amid Market Uncertainty
We have a video on our website about the MUNI exemption, Are Tax Exemptions Going Away. It is appropriate, based on the news, that a group of Republicans are standing up for the MUNI tax exemption, indicating that the tax exemption must stay. In a letter 7 Republicans...
How You Can Have Confidence in a Market Storm
US investors are currently grappling with a challenging market environment. The recent fluctuations in both stock and bond markets have led to a decrease in the value of their investment portfolios, causing significant concern.
Bond Market Whiplash: Postponed Deals, Equity Losses & the Rising Flight to Safety – What a difference 4 days make
• We saw another +20-bps day on 4/9 based on evaluations as MUNIs continued the selloff. The rout drove the 10-year AAA benchmark to 3.80%, which is the highest since at least 2011, according to Bloomberg evaluations.
Video: Should You Buy Securities with Longer or Shorter Dated Maturities?
Duration: 4:17
Transcript: If you’re looking to buy higher grade securities with a higher rate of return, then you might consider going out a little further. If you are only seeking to build a ladder, one to five years in this example, we can certainly help you with that.
Video: DRL’s Perspective on Credit Quality and Bond Insurers
Duration: 2:01
Transcript: We primarily try to stick with double a rated paper or higher. The reason being is that we feel comfortable with overall credit qualities, double a rated or higher due to the low default rate on those securities.
Video: Our Experience is Your Advantage
Duration: 2:49
Transcript: I got in the business August of nineteen ninety four, and my introduction to the business was Orange County filing bankruptcy. That was a very big moment in the municipal bond world.
Video: Why Does DRL Not Buy Lower Quality Paper?
Duration: 2:11
Transcript: When you’re working with a team that understands the municipal bond world and that also understands credit ratings, credit quality, claims paying ability, specific insurance companies, what to buy and more probably more importantly, what not to buy.