The macro numbers on employment and economic activity are improving and there has even been a backlash against the municipal bond doomsayers in recent weeks.
Although timing the resolution to these macro concerns remains challenging, recent bidding activity in Tier 1 and Tier 2 carrier accounts both domestically and abroad leave us very confident about our positioning as these markets rebound.
The question market participants both long and short term want to figure out, was the last few weeks of corrective activity enough to position for some macro buys?