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An in-depth look at the 2020 Rising Stars

Title: Assistant TreasurerFirm: Transurban — North AmericaAge: 37John Markowitz, a 2005 graduate of the University of Virginia, started his career in commercial credit at SunTrust Bank. He was about to go to law school when a colleague contacted him about working in a unique and growing form of infrastructure financing,

Munis little changed as December redemptions loom

The municipal market was quiet and little changed Monday with light trading as participants await the post-holiday new-issue calendar and December redemptions. Triple-A benchmarks saw levels bumped a basis point 10 years and out. However, with another week of healthy municipal inflows, December redemptions and coupons looming large (about $30 billion estimated),

McConnell sets up vote on Waller as Shelton’s Fed fate in limbo

Senate Majority Leader Mitch McConnell set up a vote to advance the nomination of Christopher Waller to the Federal Reserve Board, potentially clearing the way for his confirmation later this week but leaving Judy Shelton’s path to the Fed uncertain. McConnell took the action on Waller’s nomination shortly after the Senate

Powell sees significant challenges, uncertainties on vaccines

Federal Reserve Chair Jerome Powell is cautioning lawmakers that the U.S. economy remains in a damaged and uncertain state, despite progress made in the development of COVID-19 vaccines. “Recent news on the vaccine front is very positive for the medium term,” Powell said in testimony released Monday ahead of a Tuesday

Yearly muni bond volume to hit record

The municipal bond market saw the lowest monthly issuance total in November, but that did not stop this year’s total volume passing 2019’s and all but confirms 2020 will end with a new record. Muni bond issuance took a nosedive in November to the tune of $18.84 billion in 735 deals,

S&P, IHS merger focuses on technology, ESG growth

S&P Global's plans to buy IHS Markit, a move that will further consolidate global financial technology, data and ratings providers to form a new company that will increase its focus on ESG and climate. “Combined, the two companies will provide comprehensive solutions across data, platforms, benchmarks and analytics in ESG, climate

Biden likely to favor PABs to finance infrastructure wish list

A Biden Administration is likely to be favorable to a wider use of private activity bonds just as its federal cap for surface transportation is practically at full capacity. Combined with bipartisan support of PABs and a robust laundry list of infrastructure goals in President-elect Joe Biden’s Build Back Better plan

It’s official: Yellen is Biden’s pick for Treasury

President-elect Joe Biden took a significant step this week toward addressing the damage to the U.S. economy inflicted by the coronavirus pandemic, naming an economic team led by his choice for Treasury secretary, former Federal Reserve Chair Janet Yellen. In Yellen, Biden will have a battle-tested policymaker who can draw on