The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. Every issuer’s credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman and Beth Warren.
Federal Reserve officials earlier this month stressed the need to raise interest rates quickly and possibly more than markets anticipate to tackle a burgeoning inflation problem, minutes from their meeting released Wednesday showed. Not only did policymakers see the need to increase benchmark borrowing rates by 50 points, but they also said similar hikes likely would be necessary at the next several meetings. They further noted that policy may have to move past a “neutral” stance in which it is neither supportive nor restrictive of growth, an important consideration for central bankers that could echo through the economy.
Source: CNBC
The Government Finance Officers Association’s debt committee Saturday recommended repealing a decades-old policy position against taxable debt and revamping a swath of best practices ranging from issuing variable-rate debt to hiring underwriters as part of a wider updating of its best practices and policy statements. Meanwhile, the GFOA’s next debt-focused best practice is likely to focus on designated green bonds, debt committee members said Saturday. At its meeting Saturday ahead of the GFOA’s 116th conference in Austin, Texas, the debt committee spent hours recommending updates to the association’s best practices, which guide tens of thousands of local and state governments across the country. It’s the first time in 10 years that the committee has undertaken a comprehensive review of all its best practices, which the association’s website says “aim to promote and facilitate positive change or recognize excellence.”
Source: The Bond Buyer
Federal Reserve Vice Chair Lael Brainard said Thursday that it’s unlikely the central bank will be taking a break from its current rate-hiking cycle anytime soon. Though she stressed that Fed policymakers will remain data-dependent, Brainard said the most likely path will be that the increases will continue until inflation is tamed. “Right now, it’s very hard to see the case for a pause,” she told CNBC’s Sara Eisen during a live “Squawk on the Street” interview that was her first since being confirmed to the vice chair position. “We’ve still got a lot of work to do to get inflation down to our 2% target.” The idea of implementing two more 50 basis point rate increases over the summer then taking a step back in September has been floated by a few officials, most notably Atlanta Fed President Raphael Bostic. Minutes from the May Federal Open Market Committee meeting indicated some support for the idea of evaluating where things stand in the fall, but there were no commitments.
Source: CNBC
Federal Reserve Governor Christopher Waller said Monday he sees interest rate increases continuing through the rest of the year as part of an effort to bring inflation under control. Specifically, the central bank official said he would support hikes that exceed the “neutral” level considered neither supportive nor restrictive for growth. Estimates Fed officials provided in March point to a 2.5% neutral level, so that means Waller sees rates increasing at least another 2 percentage points from here. “Over a longer period, we will learn more about how monetary policy is affecting demand and how supply constraints are evolving,” Waller said in remarks delivered in Frankfurt, Germany. “If the data suggest that inflation is stubbornly high, I am prepared to do more.”
Source: CNBC
Large crowds at Riverfest this year are breaking records…and selling out hotels nearby. Downtown Wichita, a local organization working to develop the area, said events like Riverfest are huge for economic and community development in Wichita. Executive Vice President Jason Gregory said that this Riverfest is especially important for downtown development post-pandemic. “It couldn’t happen soon enough,” Gregory said. “I can tell you that. But, yeah, now that we’re here it’s really exciting to see all the people come back to support downtown.” One business benefiting? The Fairfield Inn & Suites just down the street from Riverfest. Staff there said the hotel was sold out last weekend and will be this upcoming one as well.
Source: KAKE – News
At a special meeting Monday, the Johnson County Board of County Commissioners approved a set of regulations for solar energy facilities that was less strict than those recommended by the county planning commission. Commissioners met to discuss the planning commission’s latest recommendations for regulating a utility-scale solar energy generating facility that it submitted on May 10…. The board went against the planning commission’s recommendation to cap the maximum acreage for facilities to 1,000 and approved a 2,000-acre maximum instead. It also voted to keep the original proposal that any solar facility be one and a half miles from a city border instead of the planning commission’s suggested two mile requirement.
Source: KC Star
For heartland communities hoping to thrive, encouraging and supporting entrepreneurs can energize the local economy. Places such as Ord, Nebraska, have emerged as regional poster children for economic development. Peers such as Council Grove in Kansas are seeing green shoots of their own. But such shifts can be difficult to make, and there isn’t a tried and true formula that works everywhere. To figure out what works, communities have to develop their own combination of tactics and be willing to push until they find their version of success.
Source: KLC Journal
A local Kansas farming community is bringing their worries to local county commissioners after a Kansas Department of Health and Environment investigation confirmed their concerns were real. “We’ve had challenges or concerns all along with the water quality issues being allowed to go downstream on Cole Creek or Indian Creek,” Rodney Biesenthal said, a Wheaton farmer. These concerns started 10 months ago when water runoff from a local rock quarry raised concerns for farmers in the area. A rock quarry is a place where rocks, sand, and other minerals are extracted – a type of open-pit mine. After testing through the K-State Diagnostic Lab, the total suspended solids, or TSS, were above 3,700 parts per million. To put it in perspective, the max allowed is around 45.
Source: KSNT 27 News
Overland Park’s visitor and tourism department is officially under new leadership now that Visit Overland Park has brought Warren Wilkinson on as the organization’s new president. Who he is: Wilkinson and his family originally moved to the Kansas City area from Chicago in 2018, in part, to be closer to his children’s grandparents. (His wife is from here.) He had previously worked in travel and tourism for 20 years, including work as chief marketing officer for Visit Indy, the official tourism site for Indianapolis, Indiana. He officially started his new job with Overland Park in April. Why Visit OP: Wilkinson said part of what drew him to the open position at Visit Overland Park was how well it aligned with his previous work experience and the opportunity it provides to help define the Overland Park brand.
Source: Prairie Village Post
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