The Current Opportunity Set in Bonds

Municipal Spreads are Lacking Luster   Spreads on short municipal paper (10yrs and in) are well inside their historic averages.    Source: UBS. As of March 17th, 2023.   Municipal Supply Remains Tight   The expected muni supply coming to market is...

Aptus Musings: The Debt Ceiling

Unfortunately, we are about to talk politics – let’s rip the band aid off and dive in. The U.S. just hit its debt limit.   Taking a Trip Down Memory Lane   Essentially, the political environment in D.C. in ’11 is much like today – Dem. President / Dem....