BKN - Q4 2017 Credit Commentary - Taxes Pensions Ratings
By Patricia Healy, CFA
The fourth quarter was dominated by tax reform and its effects on the supply and pricing of municipal bonds. The prospect that one of President Trump's major initiatives would finally be passed by year-end buoyed the stock market. For a recap of the tax law changes and effects on the municipal market, please see John Mousseau's commentary "The Muni Take on the Tax Bill (Round Two)."
As we move on from tax reform, many are hopeful that an infrastructure plan will be addressed this year. The ability of municipalities to