As anticipated, the Federal Reserve raised its benchmark interest rate at the December meeting for the first time since 2015. The central bank indicated that it expects gradual increases in the federal funds rate in the near-term as the economy continues to show signs of improvement. Our Municipal Market Update is data-driven, one page sheet that is intended to give you an overview of key interest rates – both floating and swap-to-fixed as well as the credit spreads of key local and state entities with data as of December 31, 2016.
Figure 1: Municipal General Obligation Yield Curves
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The Municipal Market Update is written for those making credit and investment related decisions for municipalities and non-profit institutions. If you have additional questions or would like to learn more about our municipal advisory and investment banking services, visit our Municipal Advisory page and contact Michael Stone, CFA.
