Results for "municipal bonds"

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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...

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...

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...

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...

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...

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....

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,...

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...

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...

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...

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 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,...

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...

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...

Surtax strategies can boost Medicare premiums

October 6, 2013

Advisers and clients might want to take a closer look at the tactics they're using to mitigate the new 3.8% investment income tax because certain strategies could lead to higher Medicare premiums. The 3.8% surtax, which kicked in at the start...

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...

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...

SEC: Harrisburg misled investors

May 12, 2013

The Securities and Exchange Commission has accused the city of Harrisburg, Pa., of making misleading statements to municipal bond investors as its financial condition deteriorated in 2009. The city, Pennsylvania's capital, agreed to implement...

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...

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