Municipal bonds are the most important financing tools for counties. They provide counties, states and other local governments with needed money to finance essential long-term infrastructure projects, such as schools, hospitals, roads and bridges. Not only are municipal bonds safe investments, but also the interest earned from them has been tax-exempt, making them an attractive option for investors.
NACo members can go to this link and sign up to receive the weekly brief.
The MIB discusses one major subject in detail every week. For example, the inaugural edition explains that the shutdown resulted in a stronger muni market in the first week, as investors turned away from the stock market and towards municipal bonds. However, if Congress does not reach a deal on the debt ceiling, Washington’s inability to borrow would most likely have a negative impact on issuers of municipal bonds.
The weekly brief follows other topics, including current interest rates for 5-year, 10-year and 30-year bonds, policies and recent activities of several government agencies, such as the U.S. Securities and Exchanges Commission (SEC) and the U.S. Internal Revenue Service (IRS), the actions of major ratings agencies and the regional bond issues for six different areas in the United States.
The MIB is a useful tool for county decision-makers, containing practical information that will allow officials to keep up-to-date with the state of the municipal bond market. The brief also explains how current legislative issues in Washington may affect the market in the future. County officials interested in learning more about the municipal bond market should take a look at the MIB.