Results for "municipal bonds"

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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...

What to expect from muni bonds this fall

September 25, 2012

The following is excerpted from the September investment overview from Morgan Stanley Smith Barney's Global Investment Committee. The tax-exempt municipal bond market enjoyed favorable technical factors for much of the summer, which allowed...

Muni bonds: Fall from grace?

August 28, 2012

The municipal bond market entered the month of August on a roll. A seemingly disproportionate level amount of demand over supply of available new issues had, in my opinion, driven the market higher for many weeks, producing positive returns...

Vermont has flurry of muni offerings

August 26, 2012

Vermont's worst flooding in 75 years and the lowest borrowing costs in more than four decades are pushing the state and its municipalities to borrow at the fastest pace in the United States. Facing a $733 million repair bill from Tropical Storm...

Despite bankruptcies, muni funds rake it in

July 29, 2012

High-profile municipal bankruptcies and potential defaults haven't deterred the investing public from pouring money into muni bond funds. So far this year, the funds have had net inflows of more than $28 billion, according to Morningstar Inc....

Why muni bankruptcies may not be such a good idea

July 27, 2012

While most serious municipal bond investors are clinging to the hope that the asset class is not building momentum toward a wave of defaults and bankruptcies, there apparently are those who support the notion of local governments' just walking...

Morningstar begins research on muni bonds

July 22, 2012

Morningstar Inc. has added individual municipal bond research to its repertoire. The mutual fund research specialist said last Monday that it has launched analyst research on more than 100 muni issuers and on about 1 million muni bonds. The...

Stockton's default linked to pensions — and a big stock market gamble

June 27, 2012

There are many ways to get a fix on the bankruptcy filing by the city of Stockton, Calif., but nothing quite says “What were you thinking?” like an overload of expense obligations and an ill-advised bet on the stock market. Stephen Winterstein,...

Obama targets muni bond tax exemption for those who earn more than $200K

September 25, 2011

President Barack Obama's plan to cut the budget deficit repeats his call for curbing the tax exemption on municipal bonds and would give states a break on unemployment debts owed the federal government. The recommendation includes tax overhauls...

New Fidelity funds meld target date portfolios, muni bonds

June 22, 2011

Fidelity Investments is marrying the concepts of target date portfolios and municipal-bond investing with the launch of a series of funds today. The Fidelity Defined Maturity Funds are four municipal-bond portfolios with maturity dates ranging...

Finra orders Citigroup to pay $51M to muni fund investors

April 12, 2011

Citigroup Inc., the third-biggest U.S. bank, was ordered to pay more than $51 million to a group of investors in its MAT and ASTA municipal-bond hedge funds, which regulators began examining more than two years ago. The ruling by arbitrators...

Southwest hit with $500K fine

March 13, 2011

Southwest Securities Inc. will pay $500,000 to resolve Financial Industry Regulatory Authority Inc. claims that the firm violated Municipal Securities Rulemaking Board rules by using paid consultants to solicit business. The unit of SWS Group...

Plan under way to up muni bond disclosure — but will it help?

March 3, 2011

With criticism mounting about the lack of disclosure in the municipal bond market, the agency that oversees the sale of municipal securities is working on initiatives designed to encourage broker-dealers and issuers to provide more information...

Muni bond issuers: Disclosure? What disclosure?

February 4, 2011

The municipal bond market, already under a dark cloud due to rising risk levels, apparently has a pattern of lax financial reporting practices that could further elevate concerns about the market. A new study from DPC Data Inc. found that bond-issuing...

Regulators probe muni bond conflicts of interest

January 25, 2011

Regulators are clamping down on municipal bond issuers that made political contributions to public officials in states where they have underwritten bonds. On Friday, the Securities and Exchange Commission subpoenaed documents from the Massachusetts...

Tax-exempt bonds headed for truly rotten quarter

December 29, 2010

Tax-exempt municipal bonds are heading for their worst quarterly performance in more than 16 years as yields soared amid a U.S. Treasury selloff and the looming expiration of Build America Bonds. Municipal investments have lost 4.5 percent this...

The state most likely to default? Not California, say swaps

December 28, 2010

The cost of insuring Illinois's bonds against default rose to the highest level in five months as the state headed for the new year without a plan to finance a $3.7 billion pension-fund contribution. The cost of credit-default swap insurance...

Bill Gross bets big on muni bonds

December 14, 2010

Bill Gross, the co-chief investment officer of Pacific Investment Management Co., spent $4.4 million of his own money this month to purchase shares of five municipal-bond funds run by his firm after tax-exempt debt tumbled. Gross, 66, who manages...

BAB grab likely to keep muni market roiling

December 12, 2010

The municipal bond market is likely to be even more confounding over the next few weeks as investors, and state and local borrowers, continue to rush to take advantage of the Build America Bond program, which is set to expire at the end of the...

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