Municipal bonds were unchanged Monday as the markets resumed trading after the Christmas holiday break. Traders will again see an abbreviated trading week and another long weekend as the New Year's holiday looms on Friday.

Public finance groups are optimistic 2021 will be a breakthrough year for the enactment of federal tax law changes to help grow the use of tax-advantaged bonds. The National Association of Bond Lawyers recently sent a letter to President-elect Joe Biden's transition team highlighting "a series of proposals that will allow state and local governments immediate access to much-needed capital." The recommendations include both regulatory relief that could be quickly implemented and changes in tax law that NABL officials are hoping will be included in infrastructure legislation in 2021.

California Treasurer Fiona Ma's office has gone virtual with the California Debt Financing Guide, making it easier for public finance professionals to find information they need. Ma announced the release of a new interactive software version of the guide Wednesday, which up until now had only been available as a static PDF document. It's available at www.debtguide.treasurer.ca.gov.