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Alternative Market Briefing

Comment: Building America’s Infrastructure – With the Help of the US Municipal Bond Market

Tuesday, November 22, 2016

Matthias Knab, Opalesque:

Standish Mellon Asset Management Company wrote on Harvest Exchange:

The growth in infrastructure bond issuance and the opportunity it presents for investors results from citizens and governments recognizing the need to repair and modernize the country’s transportation, energy, water and social infrastructure.

  • US voters have shown support for improving the country’s infrastructure.
  • While Donald Trump has called for expanding federal efforts to incentivize infrastructure projects, states and local governments fund 80% of projects.
  • $3.6 trillion in spending will be required by 2020.
  • New municipal bond issuance will play a key role in ensuring the safety and economic competitiveness of America’s systems and structures.
  • New project financings will provide opportunities for US and global investors to obtain attractive yields with stable credit quality and low volatility.
While uncertainty abounds over how President-elect Donald Trump will govern and what policies he will pursue, he has been remarkably consistent in touting his plans to rebuild the nation’s infrastructure. Indeed, even before the final vote totals were in on election night, Trump proclaimed to a gathering of his supporters that, "We are going to fix our inner cities and rebuild our highways, bridges, tunnels, airports, schools, hospitals. We’re going to rebuild our infrastructure, which will become, by the way, second to none. And we will pu......................

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