News

Public Finance Market Update: September 2017

PUBLIC FINANCE TRENDS
The Competitive Sale and BQ Bond Advantage

This month, we examined two bond issues from August. One was sold on a negotiated basis and the other on a competitive basis. Both issues were bank qualified (BQ) with similar ratings and par amounts. Read more...

Market Update: September 2017

 Investment Advisory Services Market Update June 2017

INVESTMENT ADVISORY SERVICES: FEATURED ECONOMIC INDICATOR
Low Inflation Could Change Fed's Plans

The Consumer Price Index (CPI) for July grew only 1.7% over the past year.  Core CPI, which excludes food and energy costs, also grew at 1.7%. Read more...

Market Update: August 2017

 Investment Advisory Services Market Update June 2017

INVESTMENT ADVISORY SERVICES: FEATURED ECONOMIC INDICATOR
Outlook Differs Between Stocks and Bonds

The stock market continues to move higher on stronger consumer and business confidence, driven in part by President Trump’s pro-growth policies. The bond market is sending the opposite message and reflects significantly less optimism about economic growth. Read more...

Public Finance Market Update: July 2017

PUBLIC FINANCE TRENDS
Credit Spreads and Change in IL Impact

This month, we analyzed the impact of a credit differential between a AAA bond issue and a Aa2 bond issue. The AAA issue sold at approximately 12-30 bps lower than the Aa2 issue, which is expected given the two notch rating advantage. Read more...

Market Update: July 2017

 Investment Advisory Services Market Update June 2017

INVESTMENT ADVISORY SERVICES: FEATURED ECONOMIC INDICATOR
Bond Market Battles Fed

In June, Fed policymakers lifted the Fed Funds Rate to a range of 1.00-1.25% and projected one more increase this year and three more hikes in 2018. Traders in the market for fed funds futures don’t agree. They see a 57% probability that the Fed lifts rates again in 2017. Read more...

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