General News Category Archives

Economic and Fixed Income Insights, Feb. 19, 2019

Patience, for now, was the theme in the minutes from January’s meeting of Fed officials.  Policymakers decided the pause does little to threaten the domestic economy while allowing the central bank to weigh the impact of trade and waning tax reform stimulus. The overall tone of the minutes was cautiously positive, reiterating a forecast of continued expansion and strong labor market conditions. U.S. government yields trended lower ahead of the release.  Both the 10-year and 30-year UST were down 5 basis points for the week to yield 2.64% and 2.98% respectively.  Tax-exempt municipal yields were also slightly lower, falling 1 basis point in both the 10-year and 30-year maturities.  

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$25 Million Allocated for Housing to Benefit Communities Impacted by Hurricanes Katrina and Rita

The Louisiana Housing Corporation (LHC) released a $25 million Notice of Funding Availability (NOFA) to increase and preserve affordable housing opportunities in 37 parishes impacted by Hurricanes Katrina and Rita. Specifically, $14.7 M has been allocated for recovery in New Orleans, which sustained the largest amount of damage from Katrina. The remaining dollars will be made available in all parishes that were impacted by the storms.

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Opportunity Zones Knock for Investors

This New York Times article explains the benefits of the Opportunity Zones program for investors, developers and communities. “It’s arguably the most significant tax break in decades,” said Ben Miller, co-founder and chief executive of Fundrise, a real estate crowdfunding site that is sponsoring an opportunity fund. The funds are generally not for small-time investors. The article reports that minimum investments often at least $50,000 to $100,000 and, in some cases, much higher.

Minnesota Housing Requests Input on 2019 Action Plan

Minnesota Housing is holding a public hearing on the 2019 Action Plan on Feb. 21 at 4 pm at the Minnesota Department of Human Services, Room 1240, 444 Lafayette Road, St. Paul. Minnesota Housing, along with the Department of Employment and Economic Development and Department of Human Services, is developing the action plan which directs how the state will meet needs and priorities in 2019 and will be submitted to HUD to receive federal housing and community assistance funding.

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