Northfield, IL February 2024 — Bernardi Asset Management’s (BAM) municipal High Income Strategy was awarded Manager of the Decade status by PSN within their US Fixed Income Universe. The PSN Top Guns Manager of the Decade list includes the top ten performers for the latest 10-year period. This is the second year in a row the High Income municipal strategy was awarded […]
Matt Bernardi recently participated in Private Vista’s Dollar$ and $ense podcast with Nicole Romito. They discuss the muni market’s unique decentralized governance framework, experience during COVID, current macro environment, and Matt’s take on the pension funding “myth”. Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast/municipal-bonds-unveiled-with-matt-bernardi-ep-37/id1644917723?i=1000645304766 Or click here: Full link: https://dollars-and-sense-creating-fullfilled-life.blubrry.net/2024/02/14/municipal-bonds-unveiled-with-matt-bernardi-ep-37/
Here are two portfolio strategies we find attractive in today’s municipal market: Tax loss swaps Discount bonds[1] trading at relatively attractive yields Tax Loss Swaps Selling bonds is an infrequent exercise for most income-oriented investors. However, when bond losses present themselves on paper, it may make sense to capture them. Losses have arisen due to […]
Northfield, IL 3Q 2023 — Bernardi Asset Management’s (BAM) Short Taxable strategy achieved “Top Guns” status within Zephyr’s PSN manager database. PSN Top Guns performance rankings are tabulated for thousands of strategies across 75 peer groups subdivided by increasingly rigorous screens and reported in ascending classes from 1-6 stars. About PSN For nearly four decades, […]
Yields moved up precipitously during the month of September as the AAA rated 10-year municipal has moved from 2.85% on August 31st to 3.52%[1] today. 3.52% is equivalent to a taxable rate of 5.58% calculated at the 37% bracket. This bond selloff (higher yields) has pulled the 10-year treasury to 4.84% as of this morning […]
Municipal bond financing offers a stable and reliable source of low cost funding for communities across our country as they work to improve their local infrastructure base and create jobs. Today, more than ever before, our communities need a healthy and vibrant municipal bond market to help them grow and prosper. On May 16th 2023, […]
Northfield, IL 1Q 2023 — Bernardi Asset Management’s (BAM) High Income (Five Star category) and Intermediate Taxable (One Star category) strategies achieved “Top Guns” status within Zephyr’s PSN manager database. PSN Top Guns performance rankings are tabulated for thousands of strategies across 75 peer groups subdivided by increasingly rigorous screens and reported in ascending classes from […]
Moody’s “Corporate Default Rate to Breach Historical Levels” Three of four of the largest U.S. bank failures have occurred in the past two months Capital One: “Credit Card Delinquencies Test Multi-Year Highs as Job Market Faces ‘Material’ Worsening. Powell: Monetary Policy Trying to Reach and Stay at Sufficiently Restrictive Stance to Bring Inflation Down –WSJ […]
Northfield, IL February 2023 — Bernardi Asset Management’s (BAM) Tactical Ladder and High Income strategies were awarded Manager of the Decade status within the Municipals’ and Intermediate Maturity fixed income universes. The PSN Top Guns Manager of the Decade list includes the top ten performers for the latest 10-year period. These municipal strategies were also […]
The Fed on Wednesday raised its target range for the Fed Funds Rate by 50 basis points (0.50%) to 4.25%-4.50%. The Fed Funds Rate (FFR) most directly impacts short term treasury rates, while bonds 5-years and beyond are primarily priced based on market forces and the expectations for future growth, inflation, and resulting Fed policy. […]