The Federal Reserve raised its target rate a quarter point to a range of 3.75% to 4% this week, its first hike since 2023.
From the Desk of David Loesch – September 17, 2026
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Market Insights
From the Desk of David Loesch – September 10, 2026
Heading into the September 16 FOMC decision, swaps and futures markets imply roughly 60% odds that the Fed lifts its target range to 3.75%–4%.
From the Desk of David Loesch – September 3, 2026
The municipal market has been caught up in a broader global bond selloff over the past few weeks, driven by rising oil prices and inflation concerns. Treasury yields moved higher alongside munis, and the move was not confined to the U.S.
From the Desk of David Loesch – August 27, 2026
Munis’ federal tax exemption is doing double duty this month, keeping borrowing costs manageable for issuers while handing investors some of the highest tax-adjusted yields in years.
From the Desk of David Loesch – August 20, 2026
On Wednesday, the Treasury Department said it would at least double the size of its liquidity support buyback operations for securities in the 10-year to 30-year sector, Secretary Scott Bessent’s latest attempt to rein in long-term borrowing costs from multi-year highs.
From the Desk of David Loesch – August 13, 2026
This week’s data leans one direction: cooling. Core CPI matched the slowest annual pace since March 2021 at 2.5%, and nonfarm payrolls fell by 23,000, with a net 103,000 jobs cut from May and June estimates.
From the Desk of David Loesch — August 6, 2026
NYC dodges a downgrade. Here’s what that means for your muni portfolio.
From the Desk of David Loesch — July 30, 2026
The Federal Reserve held rates steady this week, but the vote itself was the story. Three regional Fed presidents — Cleveland’s Beth Hammack, Minneapolis’s Neel Kashkari, and Dallas’s Lorie Logan — dissented in favor of a quarter-point hike.
From the Desk of David Loesch – July 23, 2026
Yields moved higher again this week. The 10-year Treasury touched 4.70% as we write this, and munis and corporates followed, pushing prices lower across the curve.
From the Desk of David Loesch – July 16, 2026
Investors placed more than $70 billion in orders for roughly $2.4 billion of tax-exempt bonds this week, one of the largest order books in municipal market history.
From the Desk of David Loesch — July 9, 2026
Fed Chairman Kevin Warsh’s break from forward guidance is looking less like a one-off posture and more like doctrine.
From the Desk of David Loesch – July 2, 2026
Municipal investors are entering the summer with their most favorable technical backdrop in months.