Entries by ccarranza


Market Review – Spring 2017

The post-election bond market volatility that occurred during the fourth quarter of 2016 continued into the first quarter of 2017. The 10-year AAA MMD index reached a low of 2.14% on January 18th and topped out at 2.49% on March 14th. The difference between the high and low yield for the quarter looks large, however; […]

Bernardi participates in MBFA/Court Street Group Research webinar on the Mismeasurement of the Municipal Tax-Exemption

On Thursday, March 9th, approximately 50 industry groups representing issuers, investors, and state and local governments, participated in the MBFA/Court Street Group Research webinar on the Mismeasurement of the Municipal Tax-Exemption. The Powerpoint presentation with audio can be viewed here The webinar featured the commentary of: Ron Bernardi, President & CEO, Bernardi Securities George Friedlander, Managing […]

Marty Shobert

Marty Shobert joined the firm in February of 2017 after many years of financial industry experience. He most recently owned a Registered Investment Adviser and Tax Preparation business in Naperville, IL.  Marty  helps individuals, banks, and investment advisors manage their municipal bond portfolios. Marty graduated from The University of Virginia with a B.A. in Economics […]


Market Review – Winter 2016

The election of Donald Trump surprised many and sent bond markets into a market frenzy. On the day before the election, the 10-year AAA rated average municipal yield was 1.73%. By the end of November, the yield jumped to 2.51%. This 78 basis points jump in yield was more than the jump in the 10-year […]

Ron Bernardi featured at BDA’s National Fixed Income Conference

Ron Bernardi, president and chief executive officer, appeared on a panel at the Bond Dealers of America’s National Fixed Income Conference. He touched on a number of subjects relating to issuer discloser and stated that underwriters should walk away from municipal securities transactions when they discover the issuer has failed to disclose key information. For […]


Market Review – Fall 2016

Market Update: Fed fund futures priced in a low probability of a September rate hike and the Fed did not disappoint by holding rates steady. The municipal market saw yields drift higher for the quarter as the Fed fund futures market show an increased probability the Fed will raise rates in December. Yields on the […]

BAM now listed on Envestnet | PMC

We are proud to announce Bernardi Asset Management (BAM) is now listed as a specialized asset manager on Envestnet | PMC. BAM is part of a select group of SMA municipal bond managers featured on this platform. Thank you for your continued confidence in our portfolio management expertise. Please give your investment specialist or the […]


Market Review – Summer 2016

Market Update: Municipal bond yields decreased during the second quarter with AAA 5-year, 10-year, and 20-year yields falling 21, 37, and 49 basis points, respectively. Yields dropped dramatically after the United Kingdom (U.K.) voted to leave the European Union (EU), in late June. The Prime Minister of the U.K., David Cameron, resigned shortly after the […]