Results for "municipal bonds"

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Puerto Rico debt depresses UBS Wealth earnings

July 29, 2014

Despite record revenue at UBS Wealth Management Americas, profits fell as the firm reported that it had to set aside $44 million for litigation expenses last quarter. The charge was mostly related to a rash of investor complaints stemming from...

Fixed-income ETFs continue to build off 2014's fast start

July 22, 2014

Bond markets continued to build off Q1 2014's fast start, and bond fund groups of all stripes did well; from Treasuries to emerging markets and from corporates to munis—seemingly everyone had a fantastic quarter. All of this came as the U.S....

Pimco performance stats refute Gross' 'turnaround' statement

July 17, 2014

In appearances public and private, Pimco's executives — including the legendary bond manager Bill Gross — have been touting what they've described as the performance “turnaround” of the firm's battered flagship Total Return fund. The...

The downsides of laddered bond portfolios

July 15, 2014

We think investors who build laddered portfolios to protect against rising rates will be disappointed — by locking in low yields with traditional ladders or by hidden risks of higher-yielding ladders. In our view, actively managed portfolios...

Pimco's Gross bets $200 million of cash on low interest rate

July 7, 2014

Bill Gross has wagered almost $200 million of his own money on a bet that interest rates will stay low. Mr. Gross, who has an estimated net worth of $2 billion, poured almost $60 million of his wealth into closed-end funds in May and June, adding...

Muni bond funds face ongoing Puerto Rican woes

June 30, 2014

Two top bond fund managers are suing Puerto Rico, arguing a plan by lawmakers that could provide relief on some debt obligations violates the U.S. Constitution. The lawsuit, which was filed on Saturday and first reported late Sunday by the Wall...

Let there be light in fixed-income markets: SEC's White

June 20, 2014

Securities and Exchange Commission Chairman Mary Jo White on Friday called for regulations that would illuminate prices in fixed-income markets for smaller orders from retail investors. “Properly implemented, rules providing for better pre-trade...

Best- and worst-performing fixed-income mutual funds

June 15, 2014

Core Bond Funds Top 10 Portfolio net assets ($M) 1-year return 3-year return 5-year return Expense ratio* Voya Investment Grade Credit Fund SMA (ISCFX) $100.0 7.74% 5.78% 7.37% 0.00% Putnam Income Fund A (PINCX) $1,378.7 5.86% 5.69% 10.33% 0.87%...

Bond rally means now is the time to re-evaluate muni holdings

June 10, 2014

In early 2013, we urged investors to take a hard look at the interest-rate risk in their bond portfolios. If they didn't do it then, they have a chance to do it now. The rally in bonds thus far in 2014 is providing investors with another opportunity...

Web tool offers pricing information for municipal bonds

June 9, 2014

The self-regulatory organization overseeing municipal bonds introduced on Monday a new way for investors to analyze prices in the often opaque market. The Municipal Securities Rulemaking Board launched a tool on its Electronic Municipal Markets...

Bond market message to Fed: Your 4% rate outlook is too high

May 27, 2014

The bond market, unparalleled in predicting shifts in the U.S. economy over the decades, has a message: Interest rates aren't going to rise as high as even the Federal Reserve's own forecast. From bond yields to futures and swaps, traders see...

Navigating the global fixed income waters when interest rates are rising

April 29, 2014

With the Federal Reserve gradually tapering its quantitative-easing program, interest rates will eventually rise from the historic lows fixed-income investors have become accustomed to in recent years. As advisers look to restructure their investors'...

Finra gets arbitration process back on track in Puerto Rico

April 14, 2014

Finra has expanded its pool of arbitrators and is ready to move forward with the hundreds of complaints related to collapses in Puerto Rico bond funds, according to an announcement posted on its web site Monday. After several months of deliberation,...

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...

UBS, Merrill push to keep bond fund hearings in Puerto Rico

April 4, 2014

Attorneys for UBS AG and Bank of America Merrill Lynch are opposing an effort that seeks to stem the overflow of hundreds of complaints related to battered Puerto Rico bond funds by diverting cases to arbitration venues in the Southeastern United...

Finra examining trading in new Puerto Rico Bonds

March 22, 2014

The Financial Industry Regulatory Authority Inc. said it's examining trading in the $3.5 billion of general-obligations that Puerto Rico sold this month. The self-governing U.S. territory sold the debt March 11, in the biggest-ever high-yield...

New Detroit bankruptcy plan in the hands of creditors

February 23, 2014

Detroit's plan to end its $18 billion bankruptcy assumes bondholders offered 20 cents on the dollar will eventually swallow a deal that guarantees police and firefighters collect 90 percent of their pensions. The city's debt-adjustment plan,...

Puerto Rico cuts push OppenheimerFunds' junk holdings above limit

February 13, 2014

OppenheimerFunds Inc. has municipal funds in which speculative-grade holdings exceed limits outlined in prospectuses after Puerto Rico was cut to junk by the three biggest rating companies. As a result, the money manager said it is unable to...

Puerto Rico downgrade a buying opportunity for some investors

February 5, 2014

Some savvy bond traders are describing Puerto Rico's credit downgrade as “blood in the water,” a saying that translates to a buying opportunity for the most aggressive investors. Seeing bond-rating agency Standard & Poor's downgrade Puerto...

S&P cuts Puerto Rico credit to junk

February 5, 2014

Puerto Rico's general-obligation bonds have been cut one step to speculative grade by Standard & Poor's, which cited the U.S. commonwealth's limited ability to raise funds in the capital markets. S&P lowered the island to BB+ from BBB- and kept...

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