The public finance industry is in a particularly positive position to start 2020, with low rates and supply, aggressive demand here and abroad, an increased focus on climate and taxable issuance, and geopolitical uncertainty leading to a continued flight to quality.
There is a general consensus that municipals are poised to perform well in 2020, even if they underperform relative to 2019. But larger than simply price performance should be an increased focus on how this new climate can help the industry evolve into the new decade.
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