What The Yield Curve is Telling Muni Investors
With muni yields at historic lows, have you heard anyone say they’ll be moving lower? Neither have we. In fact, the decline in yields is what we’ve seen – and predicted – for years, as… Read More »
The One Issue Politicians Aren’t Fighting About
Feathers are flying amid an especially rancorous political year, but there’s harmony among politicians on at least one important issue: the tax exemption on municipal bonds. A bipartisan group… Read More »
House Votes To Treat Munis As ‘High Quality’ In Bank Rule
The House passed a bill that would treat municipal bonds as “high-quality liquid assets” under new banking rules. A companion bill is expected to be introduced soon in the Senate. Rules… Read More »
Congress Weighs Options For Puerto Rico
The chairman of a U.S. House committee said legislators will be able to come up with a plan by next month to address Puerto Rico’s fiscal problems. In December, U.S. House Speaker Paul Ryan… Read More »
Stop Ignoring Investors in Puerto Rico’s Debt Saga
As Puerto Rico’s debt saga unfolds, the rights of individual investors must be recognized. To that end, we have forwarded the following letter to U.S. Speaker of the House Paul Ryan and Senate… Read More »
Puerto Rico Pays GO Debt, Skips PRIFA Payments
Puerto Rico paid interest due on its general obligation bonds but diverted cash set aside for its infrastructure bonds, a move insurers deemed as illegal. Earlier this week, Puerto Rico defaulted… Read More »
Puerto Rico’s Electric Utility Strikes Deal
Puerto Rico’s electric utility reached an agreement with insurance companies and bondholders to restructure its debt and provide it with an infusion of cash to help modernize its facilities. The… Read More »
What Not To Expect From The Fed’s Bump In Rates
We know what many muni investors are thinking: The Fed raised rates, so now municipal bond yields will take off. If that sounds right, we urge you to reconsider. Conventional thinking posits… Read More »
Fed Fever and the Muni Investor
With the December Fed meeting just around the corner, a fresh round of interest-rate guessing is upon us. However, unlike previous bouts of overheated prognostications, a dollop of reality seems… Read More »
Just How Smart is the ‘Intelligent Investor’?
Having toiled in the municipal bond market for more than 40 years, we are accustomed to the financial media’s focus on the stock market and its often mistaken notions of muni intricacies and… Read More »