BOND BY BOND
PORTFOLIOS,
CARING FOR CLIENT
CARING FOR CLIENT PORTFOLIOS
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
MARCH 2026
March marked a sharp but constructive reset for the municipal market, as geopolitical developments, shifting inflation expectations, and heavy issuance pushed yields higher — a move driven by rate sensitivity and technicals rather than a deterioration in demand or credit fundamentals.
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.
COMPANY NEWS
APA PARTNERS WITH UT CENTER ON MUNICIPAL FELLOWSHIP
Asset Preservation Advisors is pleased to announce its participation in the University of Texas at Austin Center on Municipal Capital Markets’ Government Finance Rotational Fellowship (GFRF), a competitive program designed to strengthen the public finance talent pipeline.
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.