Many issuers with outstanding variable rate demand bonds (“VRDBs”) have been closely tracking the SIFMA index in recent weeks, due to increased market volatility. On March 18th, the weekly SIFMA index reset more than 390 basis points higher than the previous week’s reset, and then decreased by 49, 288, and
Summary In Minnesota, spring weather is typically rather erratic. This has been evidenced once again in 2020, which has made me ponder the similarities of this year’s weather to the recent tax-exempt market behaviors. No, I’m not suggesting the two are correlated, although I wouldn’t be the first to make
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