"Yellen's "Scissors": Will Investors Get a Trim or a Full-Blown Haircut?"
In this month’s Municipal Strategy Report we discuss how the pain will be allocated between stocks and bonds, assuming the Fed tightens monetary policy as anticipated.
In addition, the strategy report features:
- In “Pennsylvania: The Keystone State Is Buffeted by Gale-Force Credit Winds” we analyze the State’s fiscal situation. Pennsylvania GO trading spreads have widened as pension woes, budgetary issues, and political discord mount.
- In “Trends in Chicago Office Property Market” we note that Windy City continues to confound expectations on the economic side of the ledger with favorable developments in commercial properties, even as fiscal issues continue to loom large.
- June has historically been a rough month for muni bonds with prices falling in 10 of the last 14 years.