What Are Zero-Coupon Bonds and Who Should Buy Them
You purchase a bond today for $500, receive absolutely nothing for the next 10 years, then suddenly collect $1,000 when ...
How Municipal Bonds Can Reduce Your Tax Burden
Picture this: You’re earning solid returns on your investments while Uncle Sam gets nothing. Not a dime. It sounds too ...
The TACO Principle And Inflation Risk
At the time of writing, President Trump is waffling about the possibility of joining Israel in its attacks on Iran ...
How Municipal Bonds outweighs Persistent Inflation
Inflation continues to be a worry for many investors. A variety of inflationary measures continue to run hot and above ...
How Climate Change impact Municipal Debt Issuances
In an era marked by intensifying wildfires, rising seas, and increasingly severe weather, climate change may be transforming how America ...
From Bitcoin to Bonds: The Unexpected Blockchain Revolution in Muni Markets
Cryptocurrencies like Bitcoin and Ethereum have captured the attention of many investors, pundits, and even politicians. With such support, the ...
Sigh, Chaos Continues (9)
Trump is hyping up April 2nd as “(Tariff) Liberation Day,” and it seems foolish to discuss the state of economy ...
Comments On “The Mar-A-Lago Accord”
In an attempt to find an explanation for the erratic policy of the Trump administration, people are pointing to the ...
Muni Market Crosscurrents: Balancing Risks and Opportunities in 2025
With the new year nearly a quarter finished, a variety of trends and themes have already started to make themselves ...
Sigh, Chaos Continues (8)
Meme “recycled” from Reddit As I expected, Trump has turned his gaze towards the European Union, and a cycle of ...
Revenge Of The Expectations Fairies
I used to mock the idea of the “expectations fairies” — at least in the context of neoclassical theory. However, ...
Sigh, Chaos Continues (7)
Since my last article, President Deals partially caved in Canadian/Mexican tariffs, but has just announced new tariffs on Canadian products ...
Sigh, Chaos Continues (6)
The tariff hammer finally fell on Canada/Mexico, and it is unclear how long the new policy will remain in place ...
Sigh, Chaos Continues (5)
The Tariff Week speculation continues, and at the time of writing, it is unclear whether the Tariff Hammer falls on ...
Sigh, Chaos Continues (4)
The crisis continues, following existing trends. Musk is destroying state capacity (and looting) while simultaneously reducing spending very little, and ...
Sigh, Chaos Continues (3)
I was planning on waiting for the fallout of The Lavrov-Rubio Pact before writing my next article, but so far ...
California’s Wildfires & Muni Bonds: Crisis or Opportunity
If California were its own country, it would be one of the largest in population and GDP size. It’s also ...
Sigh, Chaos Continues (2)
To the extent that the Trump administration has identifiable economic policies, they seem to align with what I expected. They ...
Sigh, Chaos Continues
Although I have sympathies for economic commentators who want to engage in normalcy bias, doing so in the current environment ...
Normalcy Bias In Economic/Financial Research
The announcement and then rapid capitulation by President Trump on his tariffs on Canada and Mexico (but not China!) engendered ...
Navigating Uncertainty: Why Active Management Matters for Muni Bonds in 2025
A new year brings new opportunities. It also brings plenty of uncertainty to the table. From geopolitical woes and recession ...
Canada/U.S. Free Trade, R.I.P.
Trump has declared economic war on Canada, and has done so in a fashion that Canadians can no longer take ...
How I Learned To Stop Worrying And Love Trussonomics 2.0
If you suffer the misfortune of having to write about developed country macro, you have four options. Pontificate about AI ...
Oh Noes, Not The Gilt Death Spiral!
Ray Dalio’s musings on rates markets are once again doing the rounds on social media. As anyone who has followed ...
