Municipal bond mutual funds took notice of rate movements with Refinitiv Lipper reporting $37 million of inflows after 15 weeks of multi-billion inflows, the lowest since Dec. 2. High-yield funds took a big hit with $330 million of outflows.
Senate Majority Leader Chuck Schumer and Sen. Bernie Sanders want a broader infrastructure bill to pass through the reconciliation process while other lawmakers plan a bipartisan push for surface transportation.
The COVID-19 pandemic threw the economy into disarray, creating uncertainty in so many areas, and economists still don’t agree on the future of inflation. But they agree the Fed will need to adjust when the economy starts to improve.
The governor, in his $46 billion biennial budget proposal, called for both as the state seeks to plug a deficit from the effects of COVID-19. The plan also has a bond provision.
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