Excerpt from...

Market debates whether Illinois can capitalize on rating momentum

By Yvette Shields July 06, 2021

Image
John R. Mousseau - In the News

 

After two decades of credit deterioration — with a brief reprieve about a decade ago that lifted the state’s ratings due to a recalibration of municipal credits — the pendulum shifted last week with a one-notch upgrade from Moody’s Investors Service.

The upgrade gives the state more breathing room between investment grade and junk. It had been on the verge of becoming the first sovereign state to lose its investment grade rating since mid-2017.

The upgrade could mark a turning of the tide but the state must stay on a more fiscally prudent track, especially as federal funds dry up. “I think COVID and the federal help has given the state reset button,” said John Mousseau, president and chief executive officer and director fixed income at Cumberland Advisors.

Others are more skeptical and see the upgrade only as a harbinger of near-term stability.

Read the full article at The Bond Buyer website (paywall): https://www.bondbuyer.com/news/market-debates-whether-illinois-can-capitalize-on-rating-momentum


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.


Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.

 

John R. Mousseau, CFA
Published Date
News Source
The Bond Buyer