The Shield: March 2021 Municipal Market Update

The Shield: March 2021 Municipal Market Update

Since we published our 2020 Mid-Year Market Update last June, the financial markets have calmed down from the historic turbulence experienced as a result of the COVID-19 pandemic. Two topics have come to the forefront of current municipal market discussion: the changing rate environment, and the continued efforts to transition

SPECIAL NEWS ALERT

SPECIAL NEWS ALERT

As the market anticipated, the British Financial Conduct Authority formally announced this morning that all LIBOR tenors in multiple currencies will be discontinued or become non-representative. As a result, under current ISDA definitions, fallback spreads have been calculated and set according to previously described methodologies. Although known with certainty as