MuniLand

Municipal Market Advisor’s Matt Fabian explains the basic equation of muniland: State and local governments are issuing fewer bonds for new projects, which constrains supply. Demand is extremely strong, and the combination is keeping municipal bond yields at historical lows.

Good Links

Tax Policy Institute:  What tax reform would mean for the states

USA Today:  Momentum growing for sales taxes on online purchases

Economics Intelligence: Are credit ratings massively overrated?

Van Eck Global’s MuniNation: Perspectives on municipal bonds

Bloomberg: Pennsylvania lawmakers pass fracking bill allowing county fees

Unfair Park: Are conduit bonds being used as a land grab on public education?

@Twitter Talk

@BondBuyergirl LynnHume    MSRB Warns Underwriters Consenting to Changes for New Bonds May Violate Rule  bondbuyer.com/issues/121_26/…

@ILsthousenews ILStateHouseNews  Could it be bailout time for Illinois’ prepaid tuition program? Maybe, some say. ow.ly/8WO9L

@romyvarghese Romy Varghese   Brown may give more money to near-bankrupt Providence. Can Harrisburg achieve that with its tax-exempt groups? buswk.co/xvWmeG

@bruce_katz Bruce Katz  Gov. Deal: We’re trying our best to get the Savannah port deepened |savannahnow.com: bit.ly/wJvcWu Panama Canal ripple

@zachdcarter Zach Carter  Dear California, More libraries, less prisons plz. bit.ly/w0sVyR

@InnovationTrail Innovation Trail   Is Cuomo’s budget a power grab?  bit.ly/xfPTpf

@PensionDialog Pension Dialog  Kansas finds that switching to 401k-type plan doesn’t save money but may cost $10.9 billion more  bit.ly/yX1uPl