Following the recent gauge of U.S. manufacturing activity showing expansion for the first time since 2022, bond traders have adjusted their expectations for monetary policy easing by the Federal Reserve. The amount of Fed easing priced into swap contracts for this year dropped to fewer than 65 basis points, which is less than what Fed
Politics
A proposed $2 billion public-private partnership that sought to move two major league sports teams out of Washington D.C. and into a bond-financed arena in Northern Virginia has officially been called off. This decision came after D.C. Mayor Muriel Bowser and Ted Leonsis, the owner of the NBA’s Washington Wizards and the NHL’s Washington Capitals,
Amid criticism from lawmakers for not having a clear housing plan in place, Hawaii Governor Josh Green claims the state is making progress towards reducing recovery costs by transitioning people displaced by fires from hotels to permanent housing. Lawmakers have expressed concerns about the lack of a coherent budget for the costs associated with the
City Controller Chris Hollins recently expressed his apprehensions regarding Houston’s ability to sustain the proposed settlement with its firefighters in the long term. While he acknowledged that the city could manage the immediate costs of the settlement, he emphasized the need for a revenue increase to prevent a growing structural budget gap. Hollins estimated that
Recently, Utah Governor Spencer Cox signed several pieces of legislation, including a measure aimed at preserving the state’s largest coal-fired power plant beyond its scheduled shutdown in 2025. Despite concerns raised by the Intermountain Power Agency (IPA), Cox remains optimistic about the future of the plant. However, IPA’s General Manager, Cameron Cowan, expressed reservations about
The recent $1.2 trillion spending bill that was passed by the U.S. Senate and signed by President Biden has left many in the municipal bond market disappointed. The bill, while ensuring the government remains funded, fails to address crucial legislative issues affecting the market. Despite flickers of hope for reforms on Low Income Housing Tax
Federal Reserve Governor Lisa Cook recently emphasized the importance of a cautious approach to cutting interest rates in the United States. The central bank has maintained its rates at a two-decade high, signaling a need for further evaluation before making any drastic changes. Cook highlighted the need for allowing more time for inflation to slow