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...

In written music one repeats the phrase after the coda. In municipals, we repeat the infrastructure phrase as an expression of hope. This time truly does feel different. The Civil Engineers gave us their report card of C+ for the status of infrastructure recently....

New York State Budget Outlook It is always interesting from an analyst’s viewpoint how New York State comes to market with a bond issue when the budget adoption is close but is far from done. This year is no different. Of course, all the numbers under discussion have...

While you have been watching Tesla stock on the up and down roller coaster, you have found some solace in the stability in the municipal space. It is true that yields are up measurably and that funds are not cascading into mutual funds of late. But new issuance is...

Stable and Reliable The recent power crisis in Texas had me thinking back to the beginning of my career several decades ago when my primary job was as a power analyst. I trudged through many of the public power plants across the nation including the nuclear facilities...

Governing by the Rule of 51 Most participants in the markets and pundits who follow events agree that given the level of unemployment among other factors that more needs to be done by the means of additional stimulus. The administration’s goal to include state and...