At first glance, California’s credit profile seems solid. The state has a multi-billion-dollar reserve cushion, steady revenue collections, and what I view currently as a balanced spending approach. For many investors, these headline figures provide reassurance, signaling a favorable investment opportunity in California municipal bonds. But in our line of work, feeling secure can be […]
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In a move with sweeping fiscal and political implications, the current administration is reportedly targeting the tax-exempt status of municipal bonds, which have long been a cornerstone of public finance in the United States. The target is subtle but seismic. As Washington hunts for revenue in a high-deficit, post-pandemic economy, tax-exempt municipal bonds—long considered sacrosanct—are […]
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In the world of municipal finance, fear sells. Bold headlines and dire predictions can move markets, often faster than facts. The latest panic button? A New York Post article warning that New York City is teetering on the edge of a 1970s-style financial collapse, conjuring memories of near-default and fiscal ruin. But history rarely repeats […]
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