The last time the municipal bond market rallied so much, it was Paul Volcker — and not Jerome Powell — who was winning a war on inflation.
Municipal exchange-traded funds, still a relatively new and small part of the $4 trillion state and local debt market, have seen growth stall dramatically after record inflows last year as the shift away from mutual funds slowed.
Here’s one way the federal government could help America’s black colleges and universities: expand the market for their tax-exempt bonds.
Restaurants already endured lengthy shutdowns that hobbled the industry. Now, a new wave of bans on indoor dining from Philadelphia to Seattle is threatening the weakened industry.
Illinois voters defeated a measure that would have allowed the state to raise taxes on its wealthiest residents, striking down a pillar of Governor J.B. Pritzker’s plan for shoring up the state’s finances and preventing its debt from being cut to junk.