Results for "municipal bonds"

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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...

End of tobacco row could reignite sale of state bonds

June 23, 2011

Ending a $7.1 billion dispute between states and cigarette makers may prevent future litigation and provide tobacco-backed bonds with more predictable income streams. The bonds rallied yesterday after reports that tobacco companies tentatively...

Uncounted $700B shows 'Armageddon is not right around the corner' for muni bonds

June 10, 2011

Citigroup Inc. analysts say there's something missing from the Federal Reserve's tally of the municipal-bond market's size: more than $700 billion of the securities were bought directly by individual investors. The Fed's quarterly figures, released...

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...

Taxpayers getting hosed in muni market: Study

February 25, 2011

Municipal bond issuers are paying $30 billion a year in unnecessary costs, according to a > policy paper released today by the Hamilton Project, the economic think tank of the Brookings Institution. Authors Andrew Ang, a professor at Columbia...

Pall over muni market slowly lifting

February 15, 2011

Investors withdrew about $1.2 billion from U.S. municipal-bond mutual funds this week, the 13th-straight period of withdrawals, Lipper US Fund Flows said. Outflows have totaled $24.8 billion since mid-November, according to data released yesterday...

Muni bond issuers are lax about reporting, study shows

February 13, 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 recent study from DPC Data Inc. found that...

Vanguard tweet: No muni market collapse

January 27, 2011

The Vanguard Group Inc. is turning to social media to get the word out that despite dire predictions, the muni bond market isn't about to implode. The firm has penned a new research paper, “California is not Greece,” and is holding a webcast...

Bargains going a-begging in the muni market: Deutsche Bank

January 19, 2011

There’s a powerful positive feedback loop working that will boost the U.S. economy and stock market this year, said Larry Adams, U.S. chief investment strategist of Deutsche Bank Private Wealth Management. The group manages $427 billion in...

Top muni bond manager: Whitney's call preposterous

January 19, 2011

Lyle Fitterer, the top manager of U.S. municipal-bond funds in the past decade, sides with Bill Gross and against Meredith Whitney in his view that fiscally strained states and cities will avoid widespread defaults. “The baby has been thrown...

Vanguard yanks filings for new muni bond funds

January 13, 2011

In light of the extreme volatility in the municipal bond market, The Vanguard Group Inc. has withdrawn the documents it filed with the Securities and Exchange Commission to launch three municipal bond index funds and exchange-traded funds. The...

Dimon, Buffett sound warning as surprising muni danger-zones emerge

January 12, 2011

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he expects more U.S. municipalities to declare bankruptcy and urged caution when investing in the $2.9 trillion public-debt market. “There have been six or seven municipal bankruptcies...

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...

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...

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