Some of the federal level drama was recently reduced by the stroke of a pen. However, some subplots continue to play out including the $2000 addendum and the filling of recent vacancies in various posts. Of course, there is every reason to believe that we will have...

Of course, the more controversial package includes state and local aid and legal protections for businesses pertaining to Covid-19 claims. Perhaps, bundling these two features together means that the basic stimulus package is more likely to pass. Indeed, lawmakers...

Lame Duck Action While our legislators have been dilly dallying near the banks of the Potomac, many are at home wondering if they will be receiving the proverbial lump of coal this holiday season. Given the price of coal lately, this prospect is also unsatisfactory....

Sorting it out for Municipals In these times when the commonly accepted is now being continuously questioned, it behooves us to reflect on what may happen to the municipal market along the way. By now, one would expect that a smooth presidential transition would be...

In much the same manner as we discuss risk off/risk on, I think it is time to brand fiscal policy on or off. Despite many hours consumed discussing all variations on a theme, most observers are now coming to the realization that the likelihood of additional stimulus...

One of the more remarkable developments last week was that rates did not change very much. Now that the tech sector and equities have hit a bit of a pause button one would be inclined to conclude that municipals should be rallying more. We must acknowledge the role of...