Results for "municipal bonds"

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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...

Ex-Morgan Stanley broker at center of Puerto Rico bond disputes

September 28, 2017

The Puerto Rico municipal bond mess has landed on the doorstep of Morgan Stanley, with mounting arbitration claims against the firm stemming from sales of the bonds and closed-end funds from a former broker in Miami. The broker, Angel Aquino-Velez,...

Muni bonds' tax break looks safe for now

September 13, 2017

Donald J. Trump and Treasury Secretary Steven Mnuchin have expressed support for maintaining the tax break on municipal bonds. The market takes them at their word. As the Republican president embarks on a push for tax cuts, top-rated state and...

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....

Odd letter highlights fiduciary concerns in Puerto Rico

September 21, 2017

Even when a broker is a fiduciary, he can certainly fail to act like one. Take, for example, the case of Oriental Financial Services Corp. It is a small broker-dealer that is part of a larger financial services company based in San Juan, Puerto...

Illinois' financial woes present risk — and opportunity — to muni bond investors

May 31, 2017

Illinois' financial woes, coming in the immediate wake of Puerto Rico's bankruptcy filing, is shining more light on the risks and opportunities in the municipal bond market, and stands out as a reminder that financial advisers should pay extra...

Bank of America to pay $137M in muni cases

December 7, 2010

Bank of America Corp. agreed to pay $137 million to settle investigations of its involvement in a conspiracy to rig bids on 88 municipal bond contracts, the U.S. Securities and Exchange Commission and Justice Department said. Bank of America,...

OppenheimerFunds stays uniquely committed to Puerto Rico's muni bonds

May 5, 2017

Puerto Rico's recent bankruptcy filing shines fresh light on the so-called Rochester team at OppenheimerFunds, which has remained stubbornly committed to the U.S. territory even as it has rumbled toward a wall of financial woes. The filing on...

Navigating illiquidity in municipal bonds

July 6, 2015

Investors have been flocking to the $3.6 trillion U.S. municipal bond market and demand is expected to remain strong. But while the muni market has experienced growth over the last decade, dealer participation in the space has not. Inventories...

SEC turns gaze to municipals

April 13, 2014

The Securities and Exchange Commission is turning its enforcement attention to municipal bond issuers, who have escaped close attention for too long. The development is important for individual investors, particularly retirees, and their advisers...

Best-performing muni bond funds - 10. Columbia AMT-Free Tax-Exempt Bond Fnd A

July 17, 2013

Ticker INTAX 1-year return 1.0% 3-year return 5.6% 5-year return 5.6% Expense ratio 0.8% (Assets and expense ratios as of May 31; returns as of June 28. Includes funds with $100M minimum only. Excludes leveraged and inverse funds. Three-year...

Whitney still sticks in muni bonds' craw

May 5, 2013

The municipal bond market continues to view outspoken analyst Meredith Whitney as an unwelcome guest at a private party. As much as the industry would like to see her focus her attention and sensational comments elsewhere, she refuses to leave...

Muni-bond holders in purgatory as Detroit teeters on the brink

March 11, 2013

Detroit's financial mismanagement has devolved into an ugly political morass, but the latest move by Michigan Gov. Rick Snyder is seen as a ray of hope for municipal bond investors. Regardless of where you stand on the politics involved in a...

The danger of more uncertainty in the muni market

January 22, 2013

If there is one certainty that I believe municipal bond investors can lean upon as we fully commit to writing 2013 in our check registers, it is the seemingly perpetual uncertainty regarding the political deliberations about to resume in Washington,...

The case against muni bonds

December 11, 2012

The following was written by the Litman Gregory research team and was excerpted from the firm's latest "No-Load Fund Analyst". We have written at length about our strategy on the bond side in many of our recent commentaries, and our focus has...

The muni minefield

October 16, 2012

Municipal bonds have long been viewed as a staple asset class for conservative, income-seeking investors. Munis are a large, liquid market of credit-rated securities that provide tax-exempt (from Federal taxes) income to millions of American...

What to expect from muni bonds this fall

September 25, 2012

The following is excerpted from the September investment overview from Morgan Stanley Smith Barney's Global Investment Committee. The tax-exempt municipal bond market enjoyed favorable technical factors for much of the summer, which allowed...

Muni bonds: Fall from grace?

August 28, 2012

The municipal bond market entered the month of August on a roll. A seemingly disproportionate level amount of demand over supply of available new issues had, in my opinion, driven the market higher for many weeks, producing positive returns...

Vermont has flurry of muni offerings

August 26, 2012

Vermont's worst flooding in 75 years and the lowest borrowing costs in more than four decades are pushing the state and its municipalities to borrow at the fastest pace in the United States. Facing a $733 million repair bill from Tropical Storm...

Despite bankruptcies, muni funds rake it in

July 29, 2012

High-profile municipal bankruptcies and potential defaults haven't deterred the investing public from pouring money into muni bond funds. So far this year, the funds have had net inflows of more than $28 billion, according to Morningstar Inc....

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