Multiple Turning Points One would have to be suffering from dehydration while sitting in the warm sun while contemplating the waves at this time of year not to notice that there are many turning points or shifts underway in the markets. We know change is on the way...

I recently had the pleasure of attending my first in person conference since the last one I organized in February of 2020 in Texas. I have a reinvigorated understanding of why conferences in person should be appreciated. The networking was fantastic. People were...

Worries Amid Low Rates We have learned over the years in the municipal market that low rates may be quite beneficial. There was a time when low rates would produce a surfeit of advance refunding activity. It is painful to recall the halcyon days when refunding...

The common refrain from the back seat of a car may certainly be applied in this case. Even though an agreement on a bipartisan plan was announced as done and the President approved, there have been some hitches along the way. I think the answer to the eternal question...

Infrastructure Lag In some parts of the nation there is a seasonal aspect to the construction cycle. This fact makes it even more frustrating that more progress has not been made on the infrastructure bill. If the funds will not flow this year in the later Summer to...

Infrastructure Rupture Well, here we are at the Memorial Day holiday and whether you are flipping Impossible, Beyond Meat turkey or only regular burgers, we still do not have an infrastructure bill. This is a theme you will contemplate at the grill. Now there is some...

The Future Course for Policy & Markets Yesterday’s activities presented two unique visions of the future for the nation and the markets. The two who had the stage consecutively were Chair Jay Powell and President Joe Biden. Each presenter was particularly careful...