Sheila May

Bond Buyer – Sheila May Quoted

January 25, 2024

Principal and Director of Municipal Bond Research, Sheila May, CFA was quoted in a Bond Buyer article, entitled, “Mass transit investors sanguine despite looming ‘fiscal cliff.’

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The Trouble with Municipal Bond Benchmarks

Municipal Bond | Insight

Why do municipal bond managers often fail to outperform their benchmarks? This is a reasonable question given the stellar track record of municipal indexes over basically any longer-term time horizon. In fact, if you look at an index that is supposed to represent the intermediate municipal bond space, the Bloomberg 10-Year Municipal Bond Index, it

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State of the States 2024: Elevated Reserves Cushion Revenue Slowdown

Municipal Bond | Market Commentary

Municipal Credit Perspectives Following two years of extraordinary performance driven by the unique circumstances of the global pandemic, fiscal conditions for the state sector appear to be returning to more normalized levels. Despite muted revenue growth in fiscal 2023, operating results were sound, thanks in part to cautious forecasts. Although budget officers anticipate lower revenues

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GW&K Municipal Bond Market Commentary – 4Q 2023

Municipal Bond | Market Commentary

Municipal bonds posted their best quarterly performance in nearly four decades, transforming 2023 into a year of solid gains after it looked like we were headed for a second consecutive annual loss. The remarkable turnaround was fueled by macro forces that unfolded over the final two months of the year. Recall that in October, interest

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