Listening to the presidential candidates may leave you feeling as though
the U.S. economy is circling the drain. Campaign rhetoric focuses on
negatives, and outlandish proposals take on a life of their own in daily
news bites. In fact, the economy is rolling along steadily.
So far this year, close to $50 billion worth of newly issued municipal
bonds have come to market. This may sound like a large number, but it’s
not even close to meeting the enormous investor appetite for these
The effects of slowing economic growth in China are spreading to the
world’s developed markets. Europe and Japan are feeling it most at this
point because China is the top export destination for Europe (led by
Germany) and second-most for Japan. The combined value of those exports
exceeds $300 billion annually.