Results for "municipal bonds"

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Bill Gross: Whitney's wrong about muni bond meltdown

January 12, 2011

Bill Gross, who manages the world's biggest bond fund at Pacific Investment Management Co., clashed with Meredith Whitney, the banking analyst, when he said he doubted there would be many local-government bankruptcies. “Ultimately, municipal...

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...

Bill Gross steers clear of Illinois debt as state faces 'fiscal abyss'

January 4, 2011

Illinois lawmakers will try this week to accomplish in a few days what they have been unable to do in the past two years -- resolve the state's worst financial crisis. The legislative session that began today as the House convened will take...

Incite: Has Meredith Whitney lost the muni bond plot?

December 22, 2010

There will be between 50 and 100 “significant” municipal bond defaults in 2011, totaling “hundreds of billions” of dollars. So said banking analyst and new municipal bond expert Meredith Whitney on the “60 Minutes” show on Sunday,...

Great stocking stuffers: Muni bonds

December 12, 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 are at levels not reached since May, according...

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...

Muni meltdown: Does a 'fast rally' lie ahead?

December 5, 2010

Forget the talk about a collapse in the municipal bond market — investors should be buying, according to a research note released last week by Municipal Market Advisors. Since the end of October, a wave of new issues, a downgrade of the tobacco...

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...

All of a sudden, muni bonds looking like a good deal

November 22, 2010

Tax-exempt bonds are yielding more than Treasuries for the first time since the financial crisis, a relationship that history shows doesn't last, especially as the Federal Reserve kindles inflation expectations. Investors buying AAA municipal...

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...

Whitney joins Buffett in warning about possible muni defaults

September 30, 2010

The U.S. government will face pressure to bail out struggling states in the next 12 months, said Meredith Whitney, the banking analyst who correctly predicted Citigroup Inc.'s dividend cut in 2008. While saying a bailout might not be politically...

Red Sox hit-and-run play snuffed out by muni bond issue

September 23, 2010

Florida's Lee County sold $81.2 million of bonds to keep an attraction that generates $21 million a year in tourism: the Boston Red Sox. The debt sold yesterday will finance a new stadium for the club in Fort Myers, 120 miles (194 kilometers)...

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...

The muni opinion: Default risk or just catchy headlines?

September 14, 2010

The following is a commentary by Philip G. Condon, head of municipal bond portfolio management; Ashton Goodfield, head of municipal bond trading; Carol L. Flynn, head of municipal bond research; and Anthony Parish, Fixed-income product specialist,...

Goldman tie-up with Incapital broadens its muni distribution

September 8, 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 announced today by the two firms. The partnership marks the first time Goldman, which...

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...

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...

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