Results for "municipal bonds"

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U.S. banks continue to slash exposure to muni-bonds made less valuable by tax cuts

August 27, 2018

Some of the biggest U.S. banks have continued to slash their exposure to state and city debt since the federal government cut corporate tax rates, leaving the securities less attractive to the companies. JPMorgan Chase & Co., State Street Corp.,...

SEC forces cities, states to reveal bank loans

August 20, 2018

The Securities and Exchange Commission moved to require states and local governments to disclose bank loans and privately placed debt, seeking to address concerns that bondholders are being left in the dark about a fast-growing segment of public...

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,...

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...

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...

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...

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...

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...

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...

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...

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,...

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...

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...

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...

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...

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...

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...

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...

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...

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...

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