16 Mar 2020
Greg Johnson, CIPMA

Accessing Capital Markets During
Periods of Uncertainty

The financial markets have experienced high levels of volatility these past few weeks due to the uncertainty and impacts surrounding the coronavirus (COVID-19) and its potential implications for the global economy. As municipal issuers begin to assess how to proceed with scheduled sales or planning for debt issuance in the near term, Ehlers offers general guidance.
5 Mar 2020
Joel Sutter, CIPMA

Coronavirus Fears Rock World Markets

Fears of the impact of the coronavirus have rocked world markets over the past two weeks, causing big declines in stock prices and bond yields, and lots of volatility and confusion. With interest rates at record lows, now is a good time for local governments to consider issuing debt for new projects or refunding of existing debt.
20 Feb 2020
Melissa Buck

U.S. Economic Growth Continues

The U.S. economy continues to grow, in part due to strong consumer sentiment, low unemployment, and very low interest rates. However, signs of a recession continue to linger.
6 Feb 2020
Jonathan Schatz

Global Events Push “Safe Haven” Flows

Global markets have been shaken up by global events. The spread of coronavirus, Brexit, and the impeachment trial have sent investors to the bond market to shed risk on potentially slower growth. Municipal yields reached all-time lows last week and have only slowly rallied this week on positive economic data.
24 Jan 2020
Brian Reilly, CFA, CIPMA

Interest Rates in the New Year

The municipal market continues to remain strong for issuers. While the general trend of interest rates over the last month has been lower yields, municipal rates have declined even further. Investor demand remains robust and dealers are active in the primary market.
8 Jan 2020
Greg Johnson, CIPMA

2019 Review

Pent up demand for municipal bonds and declines in yields are a favorable combination for issuers entering 2020, coming off a year where municipal bond volume exceeded $400 billion for the fourth time in ten years.
18 Dec 2019
Joel Sutter, CIPMA

The Fed Hits “Pause”

Recession fears seem to be easing, and the Fed appears to be poised to hold rates steady for an extended period. Meanwhile, the municipal bond market is finishing a busy year and expectations for next year include high volume of new bonds, increasing issuance of taxable bonds, and strong demand.
4 Dec 2019
Melissa Buck

Muni Market Recap

Although it was a quiet week for the muni market last week, this week sees the largest supply of new money bonds in the past two years – a whopping $17.4 billion of mostly taxable bonds are slated for sale by the end of the week, which many believe will be very well received (and priced).
25 Nov 2019
Jonathan Schatz

Economic Overview

The most common interpretations by various market observers of the meeting minutes from the Federal Open Market Committee’s (FOMC) October 30th meeting seem to indicate any additional action this year on the target range for the federal funds rate is unlikely.
24 Oct 2019
Greg Johnson, CIPMA

Economic Metrics Send Mixed Signals

Heading into the Federal Open Market Committee meeting next week, a variety of economic data and trends are being closely monitored