Results for "municipal bonds"

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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...

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...

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...

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...

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,...

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...

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...

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...

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...

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...

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...

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...

The danger of more uncertainty in the muni market

January 22, 2013

If there is one certainty that I believe municipal bond investors can lean upon as we fully commit to writing 2013 in our check registers, it is the seemingly perpetual uncertainty regarding the political deliberations about to resume in Washington,...

The case against muni bonds

December 11, 2012

The following was written by the Litman Gregory research team and was excerpted from the firm's latest "No-Load Fund Analyst". We have written at length about our strategy on the bond side in many of our recent commentaries, and our focus has...

Tax-managed funds back in the spotlight

November 11, 2012

The tax-exempt status of municipal bonds, which makes them particularly attractive to high-net-worth investors, is up in the air as Congress wrestles with the fiscal cliff. “This election makes the administration's proposal for a 28% cap much...

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