Market Commentaries
Municipal Market Update
July 2010In this video briefing, Ronald Bernardi summarizes the key points of the market update below.The three prevailing bond market themes during the first half of 2010 were alternately annoying and unnervingly consistent:1. Annoyingly low, nominal yi …
“The Cost of Waiting”
May 2010In recent months, we have often heard the refrain from investors, “I’m just going to wait until interest rates rise.” and, in fact, many investors are waiting for Federal Reserve policy makers to raise interest rates before committing money to the bond …
Moody’s Recalibrates
April 2010Moody’s recently announced it is changing its municipal rating scale to a uniform global scale. This change should occur by the end of April and will mean its municipal bond ratings will be directly comparable to the ratings it assigns to other bond is …
“Build America Bond Story”
February 2010In this two-part video briefing, Ronald Bernardi summarizes the key points of the President’s Letter below. The 2009 municipal bond market was much kinder and gentler than the 2008 version and, as a result, some investors are falling back into the …
“One Year Later – What is Different Today?”
December 2009Read Article
“All Roads Lead to Rome… or Should we say Washington”
May 2009Read 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 pr …
“We have met the enemy and he is us!”
November 2008President_Letter_1108
“Market Fundamentals are Different Today”
June 2008Presidents-Letter-June-2008
“The Bond Insurance Debacle – “A Fine Mess”
February 2008Read Article
“It was the Best of Times, It was the Worst of Times…” Bond Market Commentary
October 2007Pres-Letter-Oct-2007_0
“The Bond Market… Can Intimidate Everyone.” Municipal Market Update
August 2007Pres-Letter-Aug-2007
Municipal Market Update
July 2007Pres-Letter-July-2007
Municipal Market Update
March 2007Pres-Letter-03-14-2007
Should I buy a 6-month T-Bill to earn 4.53%…
January 2006ShouldIbuya6-monthT-Bill
2005 Year in Review
January 20062005_Year_in_Review