The Public Purse

Your intelligent source for municipal finance information

Category Market Thoughts

H1 2023 thoughts on the municipal market

The COVID emergency is officially over.  The Russian invasion of Ukraine is not over.  Now what? Not raising the U.S. debt ceiling is currently the single most important threat to the U.S. economy and standing on the world’s stage.  Federal… Continue Reading →

May 24, 2023

Municipal Market Thoughts

Why is the municipal market selling at such a premium?  I have been asked this question several times in the last few weeks — not by career municipal analysts at mutual funds or rating agencies, but sophisticated investors who are… Continue Reading →

May 16, 2010

Municipal Market Meltdown? Response to Bookstaber

We have two opposing camps in the muni-market at the moment: those who say it is the next systemic shoe to drop and the rating agencies that are systemically raising ratings. Which is right? We have moved from a market… Continue Reading →

April 9, 2010

Ratings Notching, Wall Street Reform and Systemic Risk

The financial reform proposals, designed to eliminate systemic risk, could actually trigger another meltdown upon the bill’s passage.  This is due to the ratings notching approach that has given rating credit to government support since the meltdown.  A change in… Continue Reading →

March 15, 2010

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