FOMC preview: Market expecting too much

This week's Federal Open Market Committee meeting will be of interest to market participants despite the unlikelihood of any changes in monetary policy, since a new Summary of Economic Projections will be released and will provide insight into their thinking on fed fund target levels for next year. While the new dot plot's median projection should "come down a little bit," said Brian Rehling, head of Global Fixed Income Strategy at Wells Fargo Investment Institute,it will be "nowhere close to where the market is expecting."?

Early bird rates are available for The Bond Buyer National Outlook conference in New York on Feb. 8.

Stakeholders in the transit systems serving Chicago and its wider metropolitan area have delivered a plan to deal with financial shortfalls driven by the COVID-19 pandemic and the “fiscal cliff” coming when the last federal relief funding is spent. Now they need state lawmakers to pay for it.

Read the newest research from The Bond Buyer on how environmental, social and governance factors fit into the municipal bond landscape.?

Justin Cooper, Orrick’s co-head of public finance, is the guest on The Bond Buyer’s podcast, where he breaks down how the states of Oregon, Washington and California are funding efforts to lessen their affordable housing and homelessness crises. Keeley Webster hosts.

Click to see the first half’s top issuers, underwriters, and financial advisors.

Washington Gov. Jay Inslee has announced plans to allocate another $941 million toward climate change programs when he formally unveils his supplemental budget on Wednesday. Inslee's proposal, which includes funding for environmental justice, clean energy and transportation projects, taps stronger-than-expected revenue from the state's carbon-pricing program.

Check out our most recent Rising Stars and the second class of Muni Hall of Famers.

Municipals were mostly steady to a touch softer in secondary trading Tuesday while newly upgraded gilt-edged Ohio upsized its general obligation refunding deal and repriced to lower yields. U.S. Treasuries improved on the day following cooler inflation data that many participants said would not move the needle on the Federal Reserve's rates decision Wednesday.

Learn how industry leaders meet the challenges facing public finance and infrastructure by listening to The Bond Buyer’s podcast, available on our website or your podcast player of choice.

Two New York budget watchdogs testified before the City Council's Finance Committee on Monday listing the good, the bad and the worrisome about the current state of the Big Apple's finance.

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