Focus remains on the Fed. They entered 2016 voicing expectations of four 25 basis point increases in the federal funds rate. We now enter the fourth quarter with no certainty that even one will be announced. Follow this link for the full report (PDF).
The municipal securities market is critical to building and maintaining the infrastructure of our nation. State and local governmental entities issue municipal securities to finance a wide variety of public projects, to provide for cash flow and other government needs, and to finance non-governmental private projects. In this report, Understanding the Issuer Risk in the Municipal Bond Market (PDF), JB Investment Management summarizes municipal bond market risk.