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Market Review – Winter 2015

Market Update: As many market participants anticipated, on Wednesday, December 16th the Federal Reserve announced its first rate hike since 2006 increasing the fed funds rate to a range of 0.25% – 0.50%. Despite the news, municipal bond yields decreased during the fourth quarter with AAA 5-year, 10-year, and 20-year yields falling 2, 11, and […]

Eric Bederman Elected to FINRA District Committee

  Eric Bederman, Chief Operating and Compliance Officer of Bernardi Securities, Inc. has been elected to serve on the FINRA District # 8 Committee. He will serve alongside six other individuals representing District # 8 member firms. Eric is one of two on the Committee serving as Small Firm Representative. He was elected by voting […]

City of Worcester, MA

  City of Worchester successfully issued $41.492 Million of Series 2015A General Obligation Municipal Purpose Bonds. The Bonds are rated AA-minus by S&P, Aa3 by Moody’s, and AA-minus by Fitch. The Bonds are being issued for the purpose of financing capital projects. The Series A Bonds are valid general obligations of the City of Worcester, […]

Village of Melrose Park, Illinois

The Village of Melrose Park, Illinois successfully issued $8,910,000 General Obligation Refunding Bonds, Series 2015 on April 14, 2015. Located in Cook County, Illinois, the Village has a population of approximately 25,411.  The 2015 Bonds were issued to refund the Village’s outstanding General Obligation Tax Increment Bonds (Alternate Revenue Source), Series 2002A, General Obligation Tax […]

City of Mattoon Coles County, Illinois

The City of Mattoon, Illinois successfully issued $8,715,000 General Obligation Refunding Bonds (Alternate Revenue Source), Series 2014 on June 10, 2014. Located in Coles County, Illinois, the City has a population of approximately 18,500.  The 2014 Bonds were issued to refund the City’s outstanding General Obligation Refunding Bonds (Sewerage Alternate Revenue Source), Series 2005A, General […]

Village of Gilberts, Illinois

The Village of Gilberts, Illinois successfully issued $11.72 million of Special Tax Refunding Bonds on June 24th, 2014. The Bonds were issued for the purpose of advance refunding a portion of the Village’s Series 2005 Special Service Area #15 Special Tax Bonds. The Series 2014 Bonds are secured and payable from the special service area […]

Early 2014 Municipal Bond Market Stabilization & Rally

Since the end of last year, the 10-year Treasury has worked its way to 2.66%, down from 3.02% on December 31st. A combination of emerging market unrest – both financial and political – and the seemingly perpetual polar vortex has caused the economy to slow, sending bond yields lower and prices higher. Municipal bonds have […]

Other Opportunities In Michigan

Ronald Bernardi was quoted in the 8/13/13 issue of InvestmentNews regarding bond issuances in Michigan, post the Detroit bankruptcy filing. “The bondholders might have to work out some kind of deal in Detroit, but to throw those debt-holders in the same group with the coffee vender doesn’t make sense,” said Ronald Bernardi, a muni bond […]

City of Detroit Bankruptcy

Ronald Bernardi was quoted in the 7/19/13 issue of InvestmentNews regarding the bankruptcy filing for the City of Detroit. “There are a lot of good credits in the state, and Michigan has traditionally been supportive of bond holders, but Gov. Snyder’s support for this plan has been surprising,” said Ronald Bernardi, a muni bond trader […]

A Mixed Message From The Fed

  A MIXED MESSAGE FROM THE FED Federal Reserve Chairman Ben Bernanke appeared before the Joint Economic Committee on Wednesday, May 22 and offered this testimony: “For some months, the FOMC has been buying longer-term Treasury securities at a pace of $45 billion per month and agency MBS at a pace of $40 billion per […]