Results for "municipal bonds"

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SEC charges two firms in municipal bond 'flipping' scheme

August 14, 2018

The U.S. Securities and Exchange Commission alleged that two firms committed fraud by snapping up municipal bonds floated in new debt offerings and quickly unloading them for a profit. The agency Tuesday alleged that from at least 2009 to 2016,...

Puerto Rico sales-tax bonds soar on news of debt deal

August 9, 2018

Puerto Rico bonds soared as much as 30% after the island reached a debt restructuring deal with owners of its sales-tax backed securities, marking a significant milestone in the government's record bankruptcy. The U.S. territory's subordinated...

Cash floods into muni bond funds

July 26, 2018

Bondholders are no longer seeing losses from their investments in state and local-government debt — and they're pouring money back into the market. Mutual funds that focus on municipal bonds picked up $1.68 billion in the week through July...

In wake of tax reform, muni bond market gains footing

July 23, 2018

Six months after the sweeping tax-reform package that cut corporate and individual rates rattled the $3.7 trillion municipal bond market, financial advisers say the fallout has proven to be a good thing for investors. With deductions for state...

Wells Fargo takes $8.7 million arbitration hit over Puerto Rican bonds

July 20, 2018

A Financial Industry Regulatory Authority Inc. arbitration panel has awarded clients of Wells Fargo almost $8.7 million over the firm's handling of sales of Puerto Rican municipal bonds. The panel found that Wells Fargo and Marc Rogers, one...

Muni closed-end funds may be ripe for tax-loss sales

July 5, 2018

It's only July, but it's not too early to discuss selling municipal-bond closed-end funds to offset a capital gains tax liability, according to Greg Neer of Relative Value Partners. Almost 90% of closed-end funds monitored by Bloomberg posted...

The sad but important truth about taxable bonds and AUM

July 2, 2018

Investors should hold a mix of stocks and bonds. Most high-income investors have limits on their ability to shelter savings, so they need to invest a significant amount in brokerage accounts. Depending on their risk tolerance, some of these...

UBS to pay $4.3 million in Puerto Rico bonds claim

June 27, 2018

UBS Financial Services Inc. has lost another multi-million-dollar Finra arbitration award stemming from the sale of individual Puerto Rico bonds and closed-end funds. According to the arbitration award, which was decided last Friday by a three-person...

Municipal bonds once seen as the safest now tarnished

June 20, 2018

Late last month, Fitch Ratings downgraded $2.5 billion of Illinois's sales-tax bonds by five steps, dropping them closer to debt backed only by the state's promise to repay. It may not be the last ratings cut for state and local government bonds...

Biggest U.S. banks cut municipal-bond holdings

May 31, 2018

More than a half dozen of the biggest U.S. banks reduced their holdings of state and local government bonds by billions of dollars after the federal government slashed corporate tax rates, making the securities less valuable to one of the market's...

Bond mark-up transparency rule could help investors, cause more work for brokers

May 14, 2018

New regulations designed to illuminate the cost of bonds, which went into effect on Monday, are likely to help retail investors but cause more work for brokers. The regulations — one from the Financial Industry Regulatory Authority Inc., the...

Mutual funds stand to gain as muni investors get first look at fees

April 23, 2018

On May 14, the municipal-bond market's biggest investors may be in for a shock. That's when new rules will require brokerage firms to start disclosing some of the fees they charge individuals to buy and sell state and local government debt....

Rise of Puerto Rico bonds has investors' minds blown

April 3, 2018

Of all the wild, head-scratching moves in financial markets this year, there are few that have surprised investors quite as much as the rally in defaulted Puerto Rico bonds. "It just blows my mind," said Matt Dalton, chief executive officer...

UBS ordered to pay $204,000 in Puerto Rican bond claim

March 20, 2018

A Finra all-public arbitration panel has found UBS liable for breach of contract and unsuitability in a customer complaint involving Puerto Rican bonds, and ordered UBS to pay compensatory damages of $204,339, plus $66,000 in costs. The claimant...

Finra panel awards five UBS clients $521,000 in damages over Puerto Rican bonds

February 26, 2018

An all-public arbitration panel of the Financial Industry Regulatory Authority Inc. has awarded five clients of UBS Financial Services more than $521,000 in compensatory damages in a case related to the clients' investments in Puerto Rican bonds...

Muni money funds show signs of life

February 12, 2018

If 2017 was the year the municipal money market funds stopped bleeding assets, 2018 is the year they've started growing again. Tax-exempt money market fund assets have increased by almost $7 billion since the beginning of the year, seven times...

Fintech startup wants to help advisers find and sell muni bonds

January 23, 2018

It's like Zillow, but for bonds. That's the idea behind Bond Navigator, a cloud-based digital marketplace for advisers to find and evaluate municipal bonds, that launched Tuesday from startup 280 CapMarkets. Gurinder Ahluwalia, the co-founder...

Tax bill SALT reduction could raise demand for munis

January 12, 2018

Residents in New York, New Jersey and Connecticut who waited in queues to pay their property taxes early and take advantage of an expiring tax deduction may be lining up in 2018 to buy municipal bonds issued in their home states. Strategists...

Trump budget chief says no U.S. bailout for Puerto Rican debt

October 4, 2017

President Donald J. Trump's budget chief said not to take the president's suggestion that Puerto Rico's debt would be "wiped out" literally, as the territory's bonds plunged to a record low Wednesday. A benchmark general obligation bond due...

Hurricanes that ravaged Puerto Rico also wreck its bonds

September 29, 2017

Hurricanes Irma and Maria devastated Puerto Rico, and the storms' effects on the islanders will last for years. Far less dire – but still lingering – will be the effect on Puerto Rico's municipal bonds and the mutual funds that hold them....

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