Conning -Thu, 06/04/2026 - 15:30

State of the States - 2026 Report

Aanya Mehta

Karel Citroen

Conning’s State of the States provides a data‑driven view of U.S. state fiscal health and relative performance for municipal bond investors. Conning maintains a stable outlook overall, but the report highlights bigger year‑over‑year rank movement and growing divergence as revenue growth moderates, reserve levels plateau, migration becomes less supportive, and structural factors—especially cost of living pressures and climate exposure—play a larger role in long‑term fiscal strength.

Explore the rankings and interactive dashboard to evaluate state‑by‑state metrics and portfolio implications.

Download the Report Here

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Contacts

Conning

Conning is a leading global investment management firm with a long history of serving the insurance industry.

We create tailored investment strategies to meet our clients' specific goals, needs, and risk tolerance. Our approach combines Conning's risk management tools with a disciplined investment process grounded in fundamental analysis.

With over four decades in insurance asset management, Conning has a proven track record helping insurers navigate complexity and pursue opportunities with confidence.

Our broad suite of core fixed income, private credit, and other specialized investment capabilities, combined with deep insurance sector knowledge, enables us to help clients address evolving balance sheet, regulatory, and investment objectives.

Sunny Wadhwa

Managing Director

Head of Business Development
sunny.wadhwa@conning.com

860-299-2248

www.conning.com

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