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Municipal Market Commentary
2024 Municipal Market Outlook

Our outlook last year was underpinned by the expectation that monetary policymakers would remain vigilant in trying to tame price pressures, even at the risk of tipping the economy into recession. Fast forward to today, and measures of inflation are falling which permits monetary policy to ease. Thus far the economy has remained resilient, however risks of recession are elevated. Forecasts for further easing of monetary policy, the potential for economic growth to contract, and softening of wages and consumer spending are all inputs into our municipal market outlook in the year ahead. To read more, fill out the form to view the full outlook.

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Disclaimer: This communication was prepared by Robert W. Baird & Co. Incorporated (“Baird”) and is intended for institutional investors only. The information contained herein is provided for informational purposes only and does not constitute, nor should be regarded as, investment research or a securities recommendation. Such information has been obtained from sources we consider to be reliable but we make no representation or warranty, express or implied, as to its accuracy or completeness.  It is current only as of the date of this report and there should be no expectation that it will be updated, supplemented, or reviewed as information changes. Any securities or products included herein may be unrated or rated below investment grade, may be considered speculative and should only be considered by accounts qualified to invest in such securities. Any use, copying, or distribution of the information in this communication by persons other than the intended recipient is prohibited.