The Muni Lowdown

ION Analytics

The Muni Lowdown is a periodic podcast recapping significant news developments in the municipal bond market from Debtwire.

  1. 4 DAYS AGO

    Breaking the climate debt doom loop

    On The Muni Lowdown, Paul Greaves and Stephanie Fagnani speak with Aayushi Mishra, PhD candidate and Lizzy Warner Fellow, about how climate pressures are reshaping the fiscal outlook for cities and states. This episode breaks down how the loop forms—starting with how climate impacts move through a city’s finances, from emergency response costs to disrupted revenues and rising insurance pressures. We examine why post‑disaster borrowing can deepen fiscal vulnerability, and how municipal bond markets are pricing, absorbing, or sometimes reinforcing climate‑driven risk. We also dig into the signals investors should look for to distinguish true resilience from repeated recovery spending. And we close with what it will take to break the climate debt doom loop—through smarter use of debt, better risk modeling, stronger federal alignment, and market incentives that reward long‑term adaptation.

    19 min

  2. 3 FEB

    The new realities of state and local budgets

    On this episode of the Debtwire Municipals Muni Lowdown podcast, Managing Editor Paul Greaves speaks with public finance expert Liz Farmer about the shifting realities facing state and local budgets. Liz begins by outlining what feels stable—and what feels newly uncertain—as governments enter another budget cycle. From there, she unpacks how rapid federal policy shifts and more assertive federal actions are reshaping the planning environment for states and municipalities. Paul and Liz then explore the growing impact of geopolitical tensions on local finances, including supply‑chain pressures, energy‑related cost spikes, and the ripple effects these create for capital projects and service delivery. They zoom out to examine the broader forces redefining public budgeting—from demographic changes to rising service costs, climate‑driven spending, and other structural trends that deserve far more attention. Liz closes the episode with a forward‑looking take on what state and local leaders should be preparing for in the year ahead—and the under‑discussed risks and opportunities that could matter most for long‑term fiscal resilience.

    25 min

  3. 28 JAN

    Bitcoin steps into the muni market

    In this episode of Muni Lowdown, we take a look at New Hampshire’s first‑of‑its‑kind Bitcoin‑backed municipal bond with guest Les Borsai, Co‑Founder of Wave Digital Assets. We unpack what the deal actually is—in straightforward municipal terms—and why a conduit issuer became the vehicle of choice for a digital‑asset‑collateralized financing. We explore the rationale behind using this structure. Les walks through how traditional muni investors should think about Bitcoin as collateral, how the structure manages price movements over time, and what safeguards were essential in earning state‑level approval. Listeners will also hear how this differs from familiar asset‑backed or project‑finance muni bonds, what types of investors have shown early interest, and whether innovations like this are likely to remain niche experiments or signal the beginning of a broader intersection between digital assets and public finance.

    23 min

  4. 18/12/2025

    From server racks to sales taxes: How ABS stress reaches municipal revenues

    Laura L. Mayfield, Vice President and Senior Portfolio Manager on the Fort Washington Investment Advisors, Inc. Securitized Products desk joins Managing Editor Paul Greaves and Journalist Kunal Kamal to discuss ABS stress and municipal revenues. In this episode, we delve into whether asset-backed securities (ABS) offer an early warning system for shifts in the broader economy. We examine emerging stress signals across consumer securitizations, dig into the rapid rise of data center ABS and assess the material risks tied to power constraints, leverage, and AI-driven capital demands. We also explore what all of this means for municipalities that depend on various taxes, utility revenues and economic development incentives tied to these sectors and whether local governments are prepared for the opportunities and vulnerabilities ahead.

    23 min

  5. 17/11/2025

    Modern munis: policy, data, and credit in transition

    Managing Editor Paul Greaves, Curation Editor Stephanie Fagnani and Head of Public Policy and Municipal Strategy Tom Kozlik at Hilltop Securities discuss how federal policy and artificial intelligence are reshaping the municipal market. This episode dives into the evolving dynamics of municipal finance in the face of shifting federal funding and the rise of artificial intelligence (AI). We explore whether federal dollars act as a stabilizer or a source of uncertainty for investors and examine sectors facing structural challenges—like higher education—that amplify these funding shifts. Our conversation also looks at how declining federal support impacts municipal bond supply and demand. Then, we pivot to AI: why it’s not just a tech story but a public finance story, how it could reshape infrastructure investment, and the opportunities and risks it creates for municipalities. Finally, we discuss the race between AI adoption and energy infrastructure readiness—and what that means for local governments and investors.

    19 min

  6. 11/11/2025

    Disaster aid dilemma - The state budget perspective

    The latest Debtwire Municipals Muni Lowdown podcast features Managing Editor Paul Greaves discussing state funding of disasters with Peter Muller, Senior Officer at The Pew Charitable Trusts and Journalist Kunal Kamal. Peter was one of the lead authors for the recently published issue brief by Pew entitled "What Waning Federal Disaster Aid Would Mean for State Budgets." The podcast begins with Peter discussing the impetus for this issue brief. The discussion shifts to the following topics: The exclusion of the US territories from this analysis.Highlighting how federal disaster aid can rival or exceed some states’ reserves in major disaster years and the ability of states to withstand repeated disasters.The headwinds faced by states due to FEMA denials rising sharply in 2025 and slower rollout of disaster aid.Discussing whether there is an appropriate risk-sharing model between the federal, state and local governments.Whether states create/maintain a standalone disaster reserve.Examining whether certain states are more or less prepared to face a scenario of significantly reduced federal support?

    16 min

  7. 06/10/2025

    PREPA's Perpetual Bankruptcy

    The latest Muni Lowdown podcast features Senior Policy Analyst Javier Balmaceda of the Center on Budget and Policy Priorities and Senior Reporter Simone Baribeau discussing PREPA's bankruptcy proceedings with Managing Editor Paul Greaves. Simone initiates the discussion with an overview of the Puerto Rico Electric Power Authority's (PREPA) and current status. Javier moves the dialogue towards the following issues: PREPA operationsUtility privatization (including the latest with New Fortress Energy and LUMA Energy).The affordability of rate hikes The podcast closes with Javier providing a view on the perspective of island residents and customers.

    18 min

  8. 16/09/2025

    Spotlight on Chicago Public Schools

    The latest Debtwire Municipals Muni Lowdown podcast features Managing Editor Paul Greaves discussing public pensions with Justin Marlowe, Professor at the University of Chicago’s Harris School of Public Policy and Curation Editor Stephanie Fagnani. Justin begins the podcast by providing a brief overview of challenges faced by Chicago Public Schools (CPS) over the decade and how it connects to the current situation with CPS. Justin follows up with an analysis of why, despite its troubled history, why CPS bond trading has experienced surprisingly little negative impact and whether there exists potential for deterioration moving forward. Justin segues the discussion into CPS’ perpetually underfunded pension liability and whether that presents a significant problem moving forward. The conversation shifts into a comparison of the factors that led the City of Detroit to file for municipal bankruptcy versus the current hurdles that Chicago must overcome. Justin concludes with thoughts on why despite Chicago Mayor Brandon Johnson’s labor union background, the relationship between the city’s teacher’s union and the city remains strained.

    22 min
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About

The Muni Lowdown is a periodic podcast recapping significant news developments in the municipal bond market from Debtwire.

Information

  • Channel
    ION Analytics
  • Creator
    ION Analytics
  • Years Active
    2020 - 2026
  • Episodes
    183
  • Rating
    Clean
  • Copyright
    © All rights reserved
  • Show Website
    The Muni Lowdown

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