Fixed Income Market Insights

• Chicago is lending cash to its underfunded pensions so they have enough money to avoid asset sales to cover retirement checks as they wait for property taxes to come in after a computer issue delayed collections.

• Connecticut is collecting a duo of fiscal wins this week with two upgrades from both Moody’s and Fitch. Both of the credit rating agencies cited improvements in the state’s budget management practices.

• As mentioned in a previous note, we have several economic data points being released BEFORE the FED meeting this month. One of which is the Non-Farm Payrolls, Bloomberg is expecting a larger gain in August’s numbers than in July.

Columbia reached a landmark deal with the Trump administration to restore federal funding for research, easing a crisis that has rattled the school’s faculty and undermined its leadership.

As investors brace for mounting financial strains on hospitals and healthcare systems amid estimates that legislation could push millions of Americans off their health insurance.

As investors brace for mounting financial strains on hospitals and healthcare systems amid estimates that legislation could push millions of Americans off their health insurance.

• The tragedy that hit our state last week ranks as one of the deadliest and costliest flash floods in US history. From 1980 through last year, flooding has killed hundreds of people nationwide and inflicted at least $203 billion in losses.

The tragedy that hit our state last week ranks as one of the deadliest and costliest flash floods in US history. From 1980 through last year, flooding has killed hundreds of people nationwide and inflicted at least $203 billion in losses, according to data from the National Centers for Environmental Information.

• As we have mentioned in previous notes, we do not expect a rate cut this month by the FED. Beyond eliminating bets or a FED cut this month, traders are also wavering on the prospect of a reduction in September.

As we have mentioned in previous notes, we do not expect a rate cut this month by the FED. Beyond eliminating bets or a FED cut this month, traders are also wavering on the prospect of a reduction in September.

As we have reported, MUNI sales are up ~21% this year compared to last year’s volume. State and local governments have sold $153 billion in new debt in the second quarter, already the largest ever, with just four trading days remaining in the period.

As we have reported, MUNI sales are up ~21% this year compared to last year’s volume. State and local governments have sold $153 billion in new debt in the second quarter, already the largest ever, with just four trading days remaining in the period.