A recent research paper suggests widespread violations of MSRB fair pricing rules are rampant in the municipal market. But scratching just below the surface reveals serious flaws in the methodology and assumptions underlying the authors' conclusions.
Letter to the Editor: Fatal Flaws in Markup Research Paper
JUN 18, 2013 9:06am ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.
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