Results for "municipal bonds"

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Gridlock is good for municipal bond investors

January 2, 2014

For the $3.7 trillion municipal bond market, Washington's political divide may be a good thing. This year's congressional elections weaken chances of a far-reaching tax-code overhaul that would roll back the break for buyers of state and local-government...

The irrational fear of muni bond defaults

December 24, 2013

This year has been full of an exhausting parade of headlines related to defaults and potential defaults in the municipal market. While some of these headlines are warranted because of the size of the default, very few municipal bond managers...

In a tale of two muni markets, it's far, far better for advisers to find the middle ground

December 17, 2013

Charles Dickens' famous first line of “A Tale of Two Cities” — “It was the best of times, it was the worst of times” — could have referred to investors' views of U.S. cities and the municipal bond market in 2013. The best of times...

UBS Puerto Rico faces 'Whopper' of a problem over muni bond funds

December 6, 2013

The woes stemming from UBS AG's unit in Puerto Rico over the sale of local, closed-end municipal bond funds have landed squarely in the lap of UBS brokers and financial advisers in the island commonwealth. The market for Puerto Rico's $70 billion...

BofA settles municipal derivatives-rigging claims

December 5, 2013

Bank of America Corp. has agreed to pay $20 million to settle a class-action lawsuit by a group of government entities which alleged the bank was part of a conspiracy that rigged bids for municipal derivatives. The $20 million is in addition...

Morgan Stanley's outlook for munis in 2014 isn't pretty

December 4, 2013

This year has been tough for municipal bonds, and unfortunately for investors, it's going to get worse before it gets better, according to Morgan Stanley Research. Morgan Stanley forecasts an 80% chance that municipal bonds will lose money again...

Detroit bankruptcy has surprising long-term implications

December 3, 2013

The bankruptcy court's Tuesday ruling that makes Detroit eligible to become the largest municipal bankruptcy in U.S. history is not likely to have a major impact on the muni bond market, but it certainly won't help. For much of the muni bond...

UBS offers to repurchase Puerto Rico muni bond funds, plaintiff's attorneys say

November 25, 2013

A unit of UBS AG in the past two weeks has offered to repurchase shares of moribund closed-end municipal bond funds invested in Puerto Rican muni securities from a select number of clients. The market for Puerto Rico's $70 billion muni debt...

Bonds to avoid tapering's effect

November 24, 2013

Interest rates are rising, cities are filing for bankruptcy, and the Federal Reserve is preparing to begin reducing its monetary-stimulus policies, a process known as tapering. To some, these events might make it appear to be a bad time to invest...

Taper threat triggering global debt fallout

November 12, 2013

Treasuries are shaping up as the world's biggest losers as taper prospects loom larger. Yields climb to eight-week high German Bunds are tracking the weaker Treasuries. Other euro zone bonds also soft The muni bond market could see some real...

Judge dismisses SEC complaint involving UBS Puerto Rico bonds

October 31, 2013

In a win for UBS Financial Services Inc., a Securities and Exchange Commission administrative judge this week dismissed allegations that two leading executives in Puerto Rico committed fraud in 2008 and 2009 when making statements to clients...

Galvin eyeing Puerto Rican muni debt obligations

October 13, 2013

Massachusetts securities regulators have begun to make inquiries about the sale of Puerto Rican municipal debt obligations to investors in the state, with the office of Secretary of the Commonwealth William Galvin last Wednesday saying that...

OppenheimerFunds loses more bond bets

October 13, 2013

OppenheimerFunds' municipal bond funds have been rocked by big bets on Puerto Rican debt, stirring up memories of its Core Bond Fund's disastrous 2008. The $125 million Oppenheimer Rochester Virginia Municipal Bond Fund (ORVAX) is down more...

Oppenheimer's risky bond bets backfire — again

October 11, 2013

OppenheimerFunds' municipal bond funds have been rocked by big bets on Puerto Rican debt, stirring up memories of its Core Bond Fund's disastrous 2008. The $125 million Oppenheimer Rochester Virginia Municipal Bond Fund (ORVAX) is down more...

Muni star Whitney winds down brokerage, sets up fund

October 10, 2013

Meredith Whitney, who built her own Wall Street advisory firm after winning renown for a 2007 call on Citigroup Inc., deregistered her brokerage unit after three unprofitable years and is setting up an investment fund, according to industry...

Surtax strategies can boost Medicare premiums

October 6, 2013

Advisers and clients might want to take a closer look at the tactics they're using to mitigate the new 3.8% investment income tax because certain strategies could lead to higher Medicare premiums. The 3.8% surtax, which kicked in at the start...

UBS Puerto Rico funds plummet

October 6, 2013

The value of proprietary closed-end-bond funds heavily invested in Puerto Rican municipal debt and created by a unit of UBS AG is plummeting, leaving the Puerto Rican arm of the firm and its 132 financial advisers there embroiled in a potentially...

Investing for Income -- Now

October 4, 2013

Despite the much-publicized woes of Detroit and Puerto Rico, the vast municipal bond market continues to offer investors considerable opportunities for income -- if they know where to look.

UBS facing legal fight over Puerto Rico bond funds gone south

October 3, 2013

The value of proprietary closed-end bond funds heavily invested in Puerto Rican municipal debt and created by a unit of UBS AG is plummeting, leaving the Puerto Rican arm of the firm and its 132 financial advisers there embroiled in a potentially...

Puerto Rico muni bonds: A contrarian view

September 29, 2013

Our perspective stands at odds with the rash of negative headlines and articles about Puerto Rico and its economy that have appeared in recent months. The media coverage largely has added very little to the conversation and has, at times, offered...

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