Despite the nostalgia surrounding municipal bonds as a safe haven for conservative investors, the current market environment reveals troubling ambivalence rather than robust vitality. Municipal debt showed only faint signs of improvement at the start of the week, with yields creeping up marginally while U.S. Treasuries gained ground and equities rose. However, this modest uptick
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Oregon’s recent legislative move to impose a special tax on athletes in an effort to fund a $1.8 billion stadium at Zidell Yards reveals a concerning overconfidence in securing a Major League Baseball (MLB) franchise. Governor Tina Kotek’s endorsement of Senate Bill 110, which introduces an $800 million bond plan financed by taxing home and
For decades, bond investors endured a barren landscape of low yields and fragile returns, trapped in an environment where income generation was all but impossible. That dreary era, dominated by near-zero interest rates, ended abruptly in 2022, ushering in what BlackRock’s Rick Rieder calls a “generational opportunity” in fixed income. As someone deeply entrenched in
The momentum behind artificial intelligence is transforming the stock market, and nowhere is this more evident than in the meteoric rise of Nvidia and Microsoft. According to Dan Ives of Wedbush Securities, these two giants are on track to break into the rarefied $4 trillion market cap club this summer—a milestone few companies achieve. But
Moderna’s announcement of a stronger immune response from its experimental mRNA flu vaccine, mRNA-1010, seems like a triumph of medical innovation. The reported 26.6% higher efficacy compared to existing vaccines is touted as a milestone in the fight against influenza, particularly for adults over 50. On the surface, this signals a potential revolution in how
For much of 2025, Nvidia’s stock appeared to be circling in a frustrating tangle of stagnation. Caught in the crosshairs of geopolitical fears—chiefly U.S. export controls targeting China—and a general cooling of enthusiasm for semiconductors, Nvidia’s share price barely budged. Skeptics argued the company’s rapid rise over recent years was unsustainable, a bubble destined to
After a furious week where the S&P 500 hit fresh all-time highs, optimism is back on the scene, seemingly unfazed by ongoing geopolitical frictions. Yet beneath the surface, an undercurrent of caution lurks. The reality is that many of the market’s leading gainers—especially technology giants and companies linked to artificial intelligence—are dangerously overextended. A popular
The municipal bond market, traditionally a bastion of stability and tax-advantaged fixed-income investing, is showing signs of strain that many investors seem unwilling to fully acknowledge. As we move deeper into 2025, the sheer volume of new municipal debt issuance is reaching unprecedented levels. With an expected $50 billion in supply just for June and
Kansas lawmakers’ rush to extend the deadline for their bond program to lure the Kansas City Chiefs and Royals from Missouri reveals a dangerously misplaced priority: subsidizing billion-dollar sports projects with taxpayer-backed debt. While the stadium proponents frame this as a visionary economic development effort, the reality is that these public financing schemes rely heavily
The banking sector’s recent surge—particularly in JPMorgan Chase and Bank of America shares—has been hailed by many as an unstoppable rally fueled by deregulation, capital strength, and expansion in capital markets. Yet, beneath this veneer lies a harsh truth: current valuations soar to levels that imply an unrealistic future. JPMorgan, now trading at nearly 3