Risk On Continues The first half for municipals was quite impressive. Volume surged by 30% and is on a pace to have elevated issuance for most of the remainder of the year. The wild card is certainly how disruptive to the pace the election will turn out to be. Even...

Momentum Build The environment for municipals has improved in recent weeks. Supply has been plentiful although that supply is not always in the states where there is specific demand. Flows into the mutual funds have turned positive again. The recent decline in rates...

Reaching the Heights The 40,000 level for the Dow has been a long time coming. I recall having serious discussions about whether the Dow would cross the 1,000 level after being in the doldrums for many years. How wonderful an investing world it has become. Some are...

Select Market & Credit Impacts There is much in the market today to generate some optimism on the path for future returns. There are also many risks that are present and could rise to a higher impact threshold. Casting about for small wins is the order of the day....

March Madness for Congress The buzzer goes off at midnight on the budget approval watch. It has become increasingly difficult to accept that the deadline will be met. There has been a preliminary agreement that has small wins for both parties that are within the...