Entries by admin
“The Bond Insurance Debacle – “A Fine Mess”
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“All Roads Lead to Rome… or Should we say Washington”
Read Article as PDF Omnes viae Romam ducant. Tutte le strade portano a Roma. All roads lead to Rome…or should we say, to Washington? For that will be the exact route for state and local governments to travel to raise capital for local infrastructure projects if Representative Barney Frank’s proposal of creating a federally guaranteed […]
Continuing Municipal Bond Market Volatility
Volatility in the municipal market was significant during the last quarter and we expect it to continue into the foreseeable future. The fourth quarter of 2010 was brutal period for total return oriented municipal bond investors. The Barclays Capital Municipal Bond Index declined 4% in the quarter with much of the loss occurring in the […]
Municipal Bond Market Volatility
Municipal bond prices endured a considerable sell off during the month of November, before showing a rebound leading up to the Thanksgiving holiday. Four factors are key to understanding this volatility: Treasury weakness. Pronounced weakness in the Treasury market caused losses in all types of bonds. Massive supply. Massive municipal bond supply hit the market […]