Results for "municipal bonds"

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Great stocking stuffers: Muni bonds

December 7, 2010

Wealthy U.S. investors may be able to buy municipal bonds at some of the highest yields in seven months as issuers rush to borrow before year end. Yields on the second-highest-rated municipal debt were at levels not reached since May, according...

New wave of muni bond defaults looking likely, says Lehmann

November 23, 2010

Municipal-bond issuers, whose default rate slowed this year, may face more failures in 2011 as federal economic-stimulus aid declines and budget pressures jeopardize debt payments, said Richard Lehmann, publisher of Distressed Debt Securities...

New registration requirements for muni 'placement agents' set to kick in

September 30, 2010

As of Friday, so-called placement agents and others who solicit business from municipalities and public pension fund, have to register with the Securities and Exchange Commission as "municipal advisors." The new registration requirement, part...

These states are financial flops, says Meredith Whitney

September 29, 2010

Meredith Whitney, the analyst who correctly predicted Citigroup Inc.'s dividend cut in 2008, will release a report rating California's financial condition as the worst among the 15 largest U.S. states, Fortune said. The report rates the states...

Goldman muni deal aids distribution

September 12, 2010

Municipal bonds underwritten by The Goldman Sachs Group Inc. will be available through the 600 broker-dealer partners of Incapital LLC as a result of a deal that the two firms announced last week. The partnership marks the first time that Goldman,...

Eaton Vance, MainStay likely to skirt a Harrisburg hit

September 1, 2010

Just three mutual funds have holdings in general-obligation bonds issued by Harrisburg, Pa., which said that it is defaulting on a $3.29 million payment. That is good news for fund investors, but some observers said Harrisburg's announcement...

Buffett sees 'terrible problem' ahead for muni bonds

June 2, 2010

Warren Buffett, whose Berkshire Hathaway Inc. has been trimming its investment in municipal debt, predicted a “terrible problem” for the bonds in coming years. “There will be a terrible problem and then the question becomes will the federal...

Illinois' financial woes present risk — and opportunity — to muni bond investors

May 31, 2017

Illinois' financial woes, coming in the immediate wake of Puerto Rico's bankruptcy filing, is shining more light on the risks and opportunities in the municipal bond market, and stands out as a reminder that financial advisers should pay extra...

Finra fined Morgan Stanley $90K for unfair trading practices

October 19, 2009

Morgan Stanley has agreed to pay a $90,000 fine to the Financial Industry Regulatory Authority Inc. to settle charges that it traded municipal bonds at unfair prices. The fine covered 11 corporate-bond trades and three municipal-securities trades...

Ex-Moody's employee warned SEC about muni issues

September 30, 2009

As Congress steps up scrutiny of the credit rating industry, allegations by another former employee of Moody's Investors Service have come to light and the big rating agency is being called to account before a House panel. A former Moody's employee...

Fitch’s plan to change muni ratings put on hold

March 3, 2009

Fitch Ratings is putting off a review of its municipal ratings program because of the economic downturn. The New York-based ratings agency said today the review would be deferred because municipal finance issuers are being “severely [affected]...

Nuveen gets infusion for ARS

May 21, 2008

Nuveen Investments LLC said today that it has received a commitment of up to $1.75 billion from an unidentified major financial institution to refinance the struggling auction rate preferred securities issued by the company’s municipal closed-end...

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...

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...

Biggest U.S. banks cut municipal-bond holdings

May 31, 2018

More than a half dozen of the biggest U.S. banks reduced their holdings of state and local government bonds by billions of dollars after the federal government slashed corporate tax rates, making the securities less valuable to one of the market's...

Finra panel awards five UBS clients $521,000 in damages over Puerto Rican bonds

February 26, 2018

An all-public arbitration panel of the Financial Industry Regulatory Authority Inc. has awarded five clients of UBS Financial Services more than $521,000 in compensatory damages in a case related to the clients' investments in Puerto Rican bonds...

UBS Puerto Rico funds plummet

October 6, 2013

The value of proprietary closed-end-bond funds heavily invested in Puerto Rican municipal debt and created by a unit of UBS AG is plummeting, leaving the Puerto Rican arm of the firm and its 132 financial advisers there embroiled in a potentially...

House leaders get pro-muni-exemption letter

July 14, 2013

The municipal bond market's dogged efforts to prevent President Barack Obama from tinkering with the 100-year-old tax exemption for muni bond income has received high-profile support from 137 lawmakers. A letter supporting the status quo for...

High anxiety over muni exemption cap

July 7, 2013

The municipal bond market is circling the wagons once again following the latest suggestion that the Obama administration wants to reduce the 100-year-old tax exemption on muni bond income. Even though most muni market experts see Mr. Obama's...

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