Thomas Doe

Mr. Doe founded Municipal Market Analytics (MMA), an independent research firm based in Concord, Massachusetts, in 1995. MMA’s core business is to provide strategic analysis and commentary on historical and quantitative conditions of the US municipal market. MMA also provides its Portfolio Credit Benchmark (PCB), an enterprise risk solution, for bank portfolios and Separate Managed Accounts (SMA), to perform credit reviews of municipal holdings effectively and efficiently. The firm’s proprietary indexes and data sets have proven invaluable to its clients to improve profitability and performance. Throughout his career, Mr. Doe has addressed all the leading groups in the municipal industry. His insight, integrity, and historical context is sought to establish a clear perspective of current conditions impacting investors and issuers in the municipal cash and derivative markets. He has testified before the Senate Banking Committee on the future of municipal regulation and the state of the industry and the Securities Exchange Commission (SEC) to provide insight into the market’s stability and liquidity. Mr. Doe had the honor of addressing the National Governors Association’s winter meeting regarding the state of public finance. Mr. Doe’s recent attention has been on innovative means to generate new revenue for states and cities addressing such topics as marijuana legalization, gaming, driverless cars, and drones. Currently, he has focused on the impact of climate risk on investor behavior and the ability of issuers to raise capital for essential infrastructure needs such as resilience and adaptation. Mr. Doe’s expertise regarding the intersection of climate and municipals was acknowledged by his appearances before the SEC municipal enforcement group in 2023 and as a panelist at the SEC’s annual compliance conference in 2023 regarding climate disclosure in municipal offering documents. Finally in January 2024, he provided testimony to the Senate Budget Committee on the topic of municipals and climate. Mr. Doe has served as a public member on the Municipal Securities Rulemaking Board (MSRB), the regulatory entity of the municipal securities industry. In addition, he has been on the advisory boards of: Public Wealth – Detter Co, Stockholm Sweden and, risQ, a climate risk analytics firm for the municipal bond market, Boston MA. He is on the advisory board of the Center for Municipal Finance at the Harris School of Public Policy at University of Chicago.