Making sense of the market and what that means for municipal bonds – Invesco – 6.1.22

Summary:

Now On Demand.

Markets don’t like uncertainty, but that uncertainty may be with us for a while. The Russia/Ukraine conflict shows no signs of abating, and the highest inflation levels in 40 years¹ suggest that Fed tightening will be with us for a while. If that’s not enough we have a midterm election coming up. With the Fed expected to hike rates multiple times this year all while dramatically accelerating its tapering of bond purchases, in the midst of inflation hitting multi-decade highs, could this mean a delayed start to the smooth ride that Federal stimulus laid out for munis?

Speakers:

Andy Blocker is Head of US Government Affairs at Invesco. In this role, he drives Invesco’s legislative and regulatory advocacy initiatives with policymakers, engages with clients and opinion leaders on public policy developments, and seeks to maximize the company’s political footprint.

Mr. Blocker joined Invesco in 2018. Prior to joining the firm, he served as executive vice president of public policy and advocacy for the Securities Industry and Financial Markets Association, where he led a team engaging lawmakers and regulators on international, federal, and state issues impacting the financial services industry. Before that, Mr. Blocker spent five years as managing director for UBS’ US Office of Public Policy, focusing on lobbying, client service, and education for individual and institutional clients. He also served as vice president of government relations for the New York Stock Exchange, as managing director of government and international affairs for American Airlines, and for the White House as special assistant to the president for legislative affairs. Mr. Blocker began his career as a financial analyst for Bell Atlantic Corporation. He has appeared on CNBC, CNBC Asia, Bloomberg, and Yahoo! Finance.

Mr. Blocker earned a BA degree in economics from Harvard University and an MBA in international business from Georgetown University.

Stephanie Larosiliere is the Head of Municipal Business Strategies and Development for the Invesco Municipal Bond team. Ms. Larosiliere works with the fund management team, acting as its representative to clients and other intermediaries. Her responsibilities include working with sales staff and clients to provide insight into the municipal fixed income market and the investment strategies utilized by the team. She is also responsible for ongoing product development and marketing for the municipal bond products.

Ms. Larosiliere joined Invesco in 2011 as a senior product manager supporting the municipal and convertible businesses. Prior to joining Invesco, Ms. Larosiliere served as a vice president of the Goldman Sachs Asset Management fixed income product management team, where she was responsible for portfolio analysis, product development, client retention, and marketing. Before joining Goldman Sachs in 2008, she worked as an institutional product management associate for Brown Brothers Harriman. She began her career in the industry in 2003 as a risk management analyst with JPMorgan Chase, where she was responsible for performing daily value at risk analysis and monthly stress risk tests on the bank’s credit portfolio.

Ms. Larosiliere earned a BBA degree in finance and investments from Baruch College — The City University of New York (CUNY).

Brian Levitt is a Global Market Strategist at Invesco. In this role, he is responsible for the development and communication of the firm’s investment outlooks and insights.

Mr. Levitt joined Invesco when the firm combined with OppenheimerFunds in 2019. He started at OppenheimerFunds in fixed income product management in 2000 and then transitioned into the macro and investment strategy group in 2005. Mr. Levitt has been quoted in the press, including Barron’s, Financial Times, and The Wall Street Journal. He has appeared on CNBC, Bloomberg, and Yahoo! Finance.

Mr. Levitt earned a BA degree in economics from the University of Michigan and an MBA with honors in finance and international business from Fordham University.