Valley Bank's Brigati on Biden's New Infrastructure Law

The video discusses the impact of grants on the municipal market, suggesting that while grants may reduce the need for traditional borrowing, they can improve credit quality. The discussion also covers supply and demand dynamics, noting that while supply may drop, demand remains strong. Rising interest rates are seen as beneficial in the long term, potentially flattening the curve. Tax strategies like tax loss swapping are recommended, and caution is advised regarding lower-rated higher education credits. Airport revenue bonds are highlighted as potential opportunities due to infrastructure projects.

What are the potential benefits of higher rates for the municipal market in the long term?

What should investors be cautious about in the municipal market, particularly regarding lower-rated higher education credits?