New credit ratings revised for municipal bonds
In April, Moody’s Investors Service began to re-calibrate its rating scale for municipal bonds. The new scale is expected to help bridge the differences between the current corporate and municipal...
View ArticleCalifornia default not likely
Despite the fact that the state of California is facing an estimated $17.9 billion budget gap, in our view the default risk on its debt is extremely low. In recent weeks, lawmakers there have issued...
View ArticleWhy S&P downgraded municipal bonds linked to federal debt
On the heels of its August 5 downgrade of U.S. sovereign debt, Standard & Poor’s lowered the ratings of more than 11,000 municipal securities, including taxable and tax-exempt bonds. While this...
View ArticleMuni meltdown? Not happening
Veteran municipal bond Portfolio Manager Thalia Meehan separates fact from fiction in the municipal bond market.
View ArticleDefault worries overdone, states finding stability
Contrary to many headlines in 2011, no broad default crisis developed in the municipal bond market, and today state finances are finding greater stability.
View ArticleTax uncertainty an issue for munis
The possibility that income tax rates might increase in the years ahead is a factor that may make tax-exempt bonds more attractive as an investment, but the outlook for broader tax reforms must also be...
View ArticleMuni bond market offers value
Comparing municipal and taxable fixed-income securities helps to highlight the attractive valuations of the tax-exempt market.
View ArticleTax reform and the muni market
The possibility of tax reform coming after the November elections is one factor influencing the municipal bond market, along with interest rates, credit quality, and international risks.
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