The fixed income markets continue to be functioning very well despite all the many present challenges. Many are perceiving angst about what is to unfold. Rates and the Fed are the primary preoccupations. But other topics are also in the forefront, including dealing...

Lessons Learned We have been through many crises over the years and no two are exactly the same. SVB and Signature banks have fact patterns that are quite different. Neither case had a lot to do with the health of the economy. Perhaps, the slowing of real estate...

Renewed Focus There have been times last year when municipals were hardly mentioned in the financial press. The action in equities overwhelmed commentary about other asset classes at that time. There has been a sharp change. Now municipals and all of fixed income are...

Most Important Factors for 2023 Market activity was greatly influenced by macro factors last year and will continue into this year. We all are inclined to take up the art of soothsaying this time of year. We feel a certain kind of pressure to review the recently...