• Are state and local governments prepared for economic downturn?

    The initial read on US GDP growth for the recently ended 3rd quarter was a 1.9% growth pace, only the third quarter with sub-2% growth rate since the end of 2015.

  • Municipal Market Monthly — September

    Last year’s municipal new issuance total, at $339 billion, established 2018 as the slowest of the past 5 years, and through May 2019, it seemed that this year would not be much busier, but the pace picked up after May.

  • Municipal Market Monthly — July

    In theory the $58B total of new 2019 cash is enough to absorb more than a third of the first six months of municipal new issue volume ($166.8B).

  • Municipal Market Monthly — June

    The first half of 2019 was good for municipal bond investors.

  • Municipal Market Monthly — May

    This outperformance has been particularly notable since the 10-year ratio has been above 80% since before the 2008 financial crisis and subsequent Great Recession.

  • Municipal Market Monthly — April

    Multiple factors can impact M/T ratio levels over time, including shifting supply and demand levels.

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