6/04/2020 The recent dual stresses of Covid-19 and tragic violence and strained racial relations have me wondering if there will be more cooperation in society and in government.  The political parties are so far apart from an ideological perspective and in many other...

One fact that has become abundantly clear is that Covid-19 will not stop imposing its will on state and local finance for some time. The damage done in the last quarter only really took place in the last month of March. All parties agree that this quarter is when the...

The definition of a revenue bond is simply a bond that is repaid from a revenue stream. Revenue bonds until the pandemic breakout have represented about two thirds of the issuance in the municipal market each year. General Obligation bonds account for most of the...

Equities are clearly running on sentiments about the future and not on the fundamentals at the present time. In the long run, the optimism will probably turn out to be well founded. In the near term, we know we are in for enduring more financial pain before the storm...

The topic of the potential for a state bankruptcy capability rose to the top of news releases from statements made by Senator Mitch McConnell yesterday. It has been some time since I have given this topic serious deliberation,...

The world as we knew it has been left behind. Stability and safety of municipals bonds was a given. Many pundits have considered municipal securities to only be second to Treasury securities in the safety factor. This premise was extremely tested when positive in...