Results for "municipal bonds"

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Tax exemptions for bonds upheld

May 19, 2008

In a 7-to-2 decision, the U.S. Supreme Court today ruled that Kentucky can continue to tax out-of-state municipal bonds, while choosing not to tax in-state ones. Kentucky was appealing a 2006 state appellate court ruling that exempting interest...

Muni bonds flee auction-rate securities

March 21, 2008

Municipal borrowers plan to pull at least $21 billion of bonds out of auction rate securities by May 1 as part of an effort to escape soaring costs, according a Bloomberg report. The amount is more than what was sold in any year before 2002,...

MBIA replaces CEO

February 19, 2008

MBIA Inc. chairman Gary Dunton has resigned because of problems the subprime mortgage meltdown caused the company. He is being replaced by former chief executive officer Joseph “Jay” Brown, company officials announced today. Mr. Brown returns...

Regulator weighs muni transparency issues

February 15, 2008

A municipal bond regulator will seek comment on whether banks and securities firms should reveal more information on bidding for auction-rate bonds. The Municipal Securities Rulemaking Board, the primary muni bond regulator, will consider a...

FGIC plans new bond insurer

February 15, 2008

Financial Guaranty Insurance Co., the embattled bond insurer, wants to split itself into two companies, according to published reports. The company placed a request with the New York State Insurance Department to open a new bond insurance unit,...

Heartland fined $3.9M for mispricing funds

January 29, 2008

The Securities and Exchange Commission has ordered Heartland Advisors Inc. to pay $3.9 million in penalties for marking down the prices of two municipal bond funds more than seven years ago. The company and its chief executive, William J. Nasgovitz,...

Forced selling of munis seen as unlikely

November 16, 2007

A possible downgrade of municipal bond insurers has caused worries that mutual funds might be forced to sell off lower-quality issues that carry a high rating due to insurance. Some tax-free funds are required to hold certain amounts of higher-rated...

Supremes weigh muni-bond taxation

November 5, 2007

The U.S. Supreme Court will hear arguments today in a case that could affect the way states tax other states’ bonds. Traditionally, state governments have provided investors an incentive to keep their capital within state lines: Interest on...

Lord Abbett beefs up muni-bond team

October 22, 2007

Lord Abbett & Co. LLC has added Marybeth Leithead as a portfolio manager on its Municipal Bond team. She will be involved in helping to develop and implement investment strategy for the company's $9 billion in tax-free assets, with a focus on...

Ruling could raise cost of muni bonds

October 22, 2007

The U.S. Supreme Court will take up a case that could affect state taxes on municipal bonds, published reports said. On Nov. 5, the court will hear a lawsuit from Kentucky investors George and Catherine Davis, who argue that the state’s policy...

Muni board aims to boost transparency

October 15, 2007

The Municipal Securities Rulemaking Board will consider amending its Rule G-14 to heighten securities’ transparency, The Bond Buyer reported today. Rule G-14 essentially requires dealers to confirm that sales have been effected, and requires...

First muni ETF debuts on AMEX

September 10, 2007

The first exchange traded fund to invest in municipal bonds began trading today on the American Stock Exchange. The iShares S&P National Municipal Bond Fund from Barclays Global Investors of San Francisco, however, won’t be the last muni ETF....

Lehman debuts muni index swap

August 1, 2007

Lehman Brothers Holdings Inc. today launched the Lehman Brothers Municipal Index Swap, according to published reports. The new product allows investors to bet on U.S. municipal bonds, taking positions on yields of new five- and 10-year swap...

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