
CARING FOR CLIENT PORTFOLIOS,
BOND BY BOND
PORTFOLIOS,
CARING FOR CLIENT
CARING FOR CLIENT PORTFOLIOS
OUR DEDICATION TO MARKET RESEARCH UNDERSCORES OUR MISSION TO PROVIDE OUR CLIENTS WITH THE MOST INFORMED AND STRATEGIC INVESTMENT SOLUTIONS IN THE MUNICIPAL BOND MARKET. THROUGH RIGOROUS RESEARCH, DATA ANALYSIS, AND A TEAM OF EXPERTS WITH DEEP INDUSTRY KNOWLEDGE, WE CONTINUOUSLY STRIVE TO DELIVER THE HIGHEST LEVEL OF SERVICE AND EXPERTISE. OUR STEADFAST FOCUS ON MARKET RESEARCH AND MUNICIPAL BONDS POSITIONS US AT THE FOREFRONT OF THE INDUSTRY, ENSURING THAT OUR CLIENTS BENEFIT FROM UNPARALLELED INSIGHTS AND OPPORTUNITIES FOR SUCCESS.

MARKET COMMENTARY
MONTHLY MARKET UPDATE
FEBRUARY 2026
Macro risks remained elevated, but municipal markets showed notable resilience, brushing aside tariff headlines, mixed Fed signals, and renewed geopolitical tension with limited volatility.

COMPANY NEWS
As Asset Preservation Advisors celebrates 35 years of bespoke municipal bond portfolio management, its new office at 400 Madison Avenue, Midtown Manhattan, enhances the firm's ability to serve ultra-high-net-worth clients in a premier global financial center.
APA EXPANDS TO NEW YORK

PUBLICATIONS
WALL STREET SOURS ON AMERICA’S DOWNTOWNS
THE WALL STREET JOURNAL
The pessimism from investors who bet on office buildings and mass transit can be seen in market signals that are flashing red.
PERSPECTIVES
SANCTUARY CITIES AND MUNICIPAL CREDIT: SEPARATING POLITICAL NARRATIVE FROM FISCAL REALITY
Recent proclamations by the Federal Government signaling intent to cut or withhold funding to “sanctuary” cities and states add a new layer of complexity to municipal credit analysis. However, it’s important to emphasize that not all affected jurisdictions are alike. The implications of potential funding reductions will vary significantly depending on each municipality’s tax base, revenue diversity, budget structure, legal protections, and the share of operations funded by federal aid.
