The start to this year is the most complex and uncertain transition in the municipal bond market since the 1986 Tax Reform, due to four main factors:
1) The impact of the Tax Reform Law on the supply/demand structure of the market
2) The continuing move toward higher short-term rates
3) The potential for an infrastructure bill of uncertain size and scope, and other concerns about infrastructure
4) Likely continued erosion in average credit quality.
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Neighborly Insights
Posted 01/09/2018 by George Friedlander
This Outlook is brought to you by Court Street Group.