Results for "municipal bonds"

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Fixed income is still a mystery to many investors

October 28, 2019

The top-line takeaway from a BNY Mellon Investment Management national survey on fixed-income investing was stunning: A measly 8% of Americans were able to accurately define fixed-income investments. The 29-question online survey of just more...

JPMorgan, BlackRock say investors too cautious on repeat of 2008

October 4, 2019

Investors are pumping the brakes too hard on equities amid concern a repeat of the 2008 financial crisis is around the corner, according to JPMorgan Chase & Co. and BlackRock Inc. Anastasia Amoroso, a global investment strategist at JPMorgan...

Hunt for tax havens fuels $47 billion stampede into muni debt

September 27, 2019

Municipal bonds have never been at risk of becoming the next big thing for bubble-chasing investors, like crypto currencies or tech IPOs. But 2019 has been marked by an unusually large stampede into the $3.8 trillion market for state and local...

UBS hit with $4.4 million arb award over Puerto Rico bonds and funds

August 22, 2019

A group of investors who bought Puerto Rico bonds and closed-end funds won a $4.4 million arbitration claim against UBS Financial Services Inc. and its related business in Puerto Rico. The three investors and related trusts and businesses initially...

Muni-bond refinancing surges as yields hold near a record low

August 22, 2019

Municipal-bond refinancing is back with a vengeance. Like homeowners racing to lock in lower interest rates, state and local governments in August sold $8.5 billion in bonds to refinance outstanding debt, the fastest pace since October, according...

IFS Securities hit with $10 million trading loss: reports

August 15, 2019

A midsize broker-dealer in Atlanta is facing a potential loss of at least $10 million after its head municipal securities trader made unauthorized trades and shorted Treasury bonds, according to published reports. Keith Wakefield, the former...

Biggest firms win fight for cash flooding muni funds

July 23, 2019

A handful of the biggest firms on Wall Street are landing the vast majority of cash pouring into the municipal-bond market. Vanguard Group's mutual funds focused on tax-exempt debt have received about $12.7 billion this year, or nearly a third...

Muni funds land a year's worth of cash in four months

April 25, 2019

It's only four months into 2019, and already mutual funds that invest in state and local-government debt have raked in more cash than they usually do in a year. Investors added $1.1 billion to such funds in the week ended April 17, the fifteenth...

Smart money is pouring into fixed income

April 19, 2019

Even with the roaring start to 2019 that has the S&P 500 Index up nearly 16% through Thursday, an increased appetite for fixed-income strategies suggests the emergence of a more conservative mindset among investors. While the first three months...

Morningstar improving bond fund data reporting

April 4, 2019

Morningstar Inc. is changing up the way it reports fixed-income data for investors and financial advisers. The switch relates to how Morningstar, which provides data and research on mutual funds and exchange-traded funds, reports important fixed-income...

Philadelphia sues seven banks over 'collusion' in municipal bond deals

February 21, 2019

Philadelphia sued seven banks, including JPMorgan Chase & Co. and Bank of America Corp., accusing them of costing local governments billions of dollars by colluding to fix the prices on floating-rate bonds issued to finance public works. The...

The only certainty is death, taxes, and muni advantages

February 14, 2019

If the last few days are any indication, the denizens of Wall Street either aren't as sharp as they seem or they're dreading the prospect of paying more in taxes. I say this because two of the most popular articles on the Bloomberg terminal...

Why muni bond dealers welcome the tax-the-rich push

February 4, 2019

Politics aside, one corner of Wall Street is likely welcoming Democrats' talk of raising taxes on the rich. Higher rates tend to be a good thing for the $3.8 trillion state and local government bond market, a haven for investors looking for...

Muni-bond funds return to Puerto Rico

January 31, 2019

Traditional bond buyers are going back to Puerto Rico. After shunning the U.S. territory for much of the past six years, municipal-bond mutual funds are again buying the government's debt as it recovers from the 2017 hurricane and inches closer...

Vanguard holds half of PG&E $920 million municipal bonds

January 15, 2019

The Vanguard Group holds about $415 million of municipal bonds issued on behalf of PG&E Corp., about half of the $920 million state and local debt sold for the California utility that's edging toward bankruptcy because of the fallout from devastating...

Banks continue to unload munis in third quarter

November 29, 2018

Some of the biggest U.S. banks have continued to reduce their exposure to state and local government debt, slashing such holdings by $3 billion during the third quarter, after the federal corporate tax cut weakened the appeal of the securities....

Municipal bond slide may scare away key buyers

October 8, 2018

Municipal bonds suffered their worst week since early February last week, but the real test of the market lies ahead. Will slow-to-react individual investors pull their money out in droves, as they have during previous downturns? Individuals,...

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,...

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