Public finance

The Federal Reserve began cutting rates in September. The December meeting is its last of 2024. Will the cutting continue, or will there be a pause? Doug Peta, Chief Strategist, U.S. Investment Strategy, at BCA Research, discusses the meeting and future policy.

After cutting rates 50 basis points in September, the Federal Open Market Committee meets after Election Day to determine monetary policy. Gary Pzegeo, head of fixed income at CIBC Private Wealth U.S., provides his take on the latest move.

It's the latest proposal for a type of national infrastructure financing structure in lieu of the municipal bond market.

"Fed watchers will be parsing Powell's comments for signs that a 50bp rate cut is on the table for September," noted Lauren Saidel-Baker, an economist with ITR Economics. "However, the notoriously tight-lipped chair is unlikely to confirm this, making a 25bp cut the most likely outcome."

Missouri Secretary of State John Ashcroft's office said the ruling was "not just legally deficient but also morally wrong."

Gary Quinzel, vice president of portfolio consulting at Wealth Enhancement Group, gives his views about monetary policy and offers his opinion on the FOMC statement and Fed Chair Jerome Powell's press conference.

The bank has also hired some analysts to its infrastructure group over the past several weeks as it plans to beef up its muni team.

Six financial institutions may be placed on West Virginia's restricted list if they are found "boycott" the fossil fuel industry, Riley Moore said.

The Federal Reserve expects to cut interest rates three times this year, some say as early as March, if data alllow those moves. Following the Jan. 30-31 FOMC meeting, Garrett Melson, portfolio strategist at Natixis Investment Managers Solutions, will provide his take on the meeting and Chair Jerome Powell's press conference.

The muni market finances the "fabric of our nation, and now, because of Citi's exit, the cost of financing for state and local governments is going to go up," a sell-side source said.

After months of speculation, the firm confirmed it would "wind down" its municipal underwriting and market-making activities after a "broad-based review" of its muni business, according to a company memo.

The Federal Open Market Committee's Summary of Economic Projections probably won't offer the 130 basis points of cuts next year that the market expects.

All eyes are on the Federal Reserve and monetary policy. Join us as Scott Anderson, chief U.S. economist and managing director at BMO Economics, breaks down the latest FOMC meeting.

A group of about 10 bankers reportedly is departing Citi for Jefferies.

The Federal Reserve is expected to pause at its September meeting. Jeff Timlin, a managing partner at Sage Advisory, will join us on Sept. 21 to provide analysis of the meeting.

With class certification now in hand, the cities that brought the lawsuit have two weeks to outline how other municipalities will be provided notice of the chance to join.

The Attorney General's office found the firm complies with a 2021 state law banning contracts with companies that "discriminate" against the firearm industry.

While it's still relatively early to tell how much — if at all — the muni market will be impacted, Kara South, portfolio manager at GW&K Investment Management, said downgrades of certain municipal bonds are likely to follow.

The Federal Reserve said that banks reported tighter standards and continued weak demand for loans in the second quarter, extending a trend that began before recent stresses in the banking sector emerged.

As ESG issuance has grown around the globe, so have investor demands, international standards for it and regulatory rulemaking around it. Citi's Aoiffe McGarry and Fitch's Megan Neuburger discuss with The Bond Buyer's Lynne Funk.