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What Will Tariff Increases and Uncertainty Mean for the Municipal Bond Market?

Don’t be fooled by the 90-day pause. It looks like high tariffs will be here to stay and we are in the midst of an all-out trade war with China, including a minimum 145% tariff....more

Why a Recession Could Be Good for the Bond Market, the Banking Sector, and the Real Estate Market

As odd as it may seem and as odd as it is to say, what the municipal market, medium-sized banks, and the real estate market need is a good old fashioned (but not too severe) recession. On July 26, the Federal Reserve Board...more

The Impact of Interest Rate Hikes on the Real Estate Market

The Federal Reserve will likely raise its target federal funds rate by another 0.75 percentage point as early as next week, according to news reports. Fed officials have already raised benchmark short-term borrowing rates 1.5...more

COVID, the Economy, and the Municipal Market

A combination of high debt, low interest rates, and supply and labor shortages has contributed to inflation. Some of this impact is the direct result of the COVID pandemic. COVID has also caused distress in certain vulnerable...more

Summary of Municipal Liquidity Facility

The CARES Act authorized the Secretary of the Treasury to make up to $500 billion in loans, loan guarantees, and other investments for eligible businesses, States, and municipalities. The term sheet released by the Federal...more

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