Many investors find it difficult to pay a price greater than par for a bond. We often find this hesitation is purely psychological and causes some investors to miss an advantageous structure in a low interest rate environment. This market commentary is written to explain why premium municipal bonds often offer value in today’s market […]
The Village of Gilberts, Kane County, Illinois successfully issued $17,475,000 Special Tax Refunding Bonds, Series 2015 on June 23, 2015. The Bonds were issued to currently refund the previously outstanding Special Service Area Number 9 Special Tax Bonds, Series 2005 which previously refunded Special Tax Bonds, Series 2001. The 2001 bonds were issued to finance […]
Bernardi Securities was mentioned in the October 24th, 2015 issue of the Chaska Herald regarding the city of Carver, MN road project. “The City Council approved the sale of $1.22 million of bonds in May 2015 to the investing team of Northland Securities, Inc. and Bernardi Securities, Incorporated to finance this project and the city’s […]
Market Update: Municipal bond yields decreased during the third quarter with AAA 5-year, 10-year, and 20-year yields falling 10, 25, and 21 basis points, respectively. In mid-September, the Federal Reserve reaffirmed its view to maintain the target range for the federal funds rate of 0.00% – 0.25%. As a result of the Fed announcement, the futures […]
Market Update: Municipal bond yields decreased during the third quarter with AAA 5-year, 10-year, and 20-year yields falling 10, 25, and 21 basis points, respectively. In mid-September, the Federal Reserve reaffirmed its view to maintain the target range for the federal funds rate of 0.00% – 0.25%. As a result of the Fed announcement, the […]
Ronald P. Bernardi was quoted in the Bond Buyer on September 18th, 2015. “Ron Bernardi, principal, president and chief executive officer of Chicago-based Bernardi Securities, said the report may not be representative of the muni market as a whole, as it’s based on a relatively small sample. While he acknowledged that costs have risen, Bernardi […]
By Ronald P. Bernardi When is a bond manager a good fit for you? What is the most economical way to pay for bond portfolio management services? Does the manager adhere to a fiduciary or suitability standard? What is the difference and does it matter to you? Are you willing to pay ongoing fees for […]
Timely and complete disclosure of information is an important obligation of municipal bond issuers. Federal securities laws prohibit issuers from making false or misleading statements or omissions of material information in connection with the purchase or sale of securities. Information that is considered material is generally considered information that an investor would want to know […]
Ronald P. Bernardi was quoted in the August 12th, 2015 issue of InvestmentNews regarding interest rate hikes. Read Full Article (InvestmentNews site registration required)
Market Update: Municipal bond yields increased during the second quarter with AAA 5 year, 10 year, and 20 year yields rising 14, 32, and 34 basis points, respectively. Positive economic data, a surge in supply and anticipation of a rate increase by the Federal Reserve helped drive rates higher across the curve. Download PDF>