Special Report

Commentary

The Bond Buyer accepts bylined commentary pieces of 1000 words or less for publication in the Monday edition of The Bond Buyer and The Bond Buyer online. The deadline for submissions is Noon on the Thursday prior to publication. We reserve the right to edit submissions.

Letters to the editor of 500 words or less can also be submitted for publication.

To submit a Commentary or Letter to the Editor, email the document to Editor in Chief Gavin Murphy at gavin.murphy@sourcemedia.com

Commentary - When It May Be Virtually Free to Be Tax Free

By Daniel Solender |  May 13

Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

Commentary: MSRB Must Clarify Rules for Muni Advisors vs. Broker-Dealers

By Jeanine Rodgers Caruso |  May 10

The MSRB needs to clarify that regulated persons serving as financial advisors, regardless of the title they use, cannot disclaim fiduciary duty.

Commentary: Are Muni Bonds Risky Business?

By Michael Decker |  May 09

Why invest in the $3.7 trillion municipal bond market? SIFMA's Michael Decker offers some of the compelling reasons.

Commentary - QE Muni: New Medicine for an Ailing Economy

By Nathaniel Singer |  May 08

Does the Federal Reserve really think that another round of continued buying of long term Treasuries and mortgage-backed securities will provide a significant healing effect to the ailing economy? Isn't it time to consider a different course of treatment where the "bang for the monetary buck" will be more significant?

Commentary: GOP's Public Pension Transparency Act Starts on a False Premise

By Rep. Gwen Moore |  Apr 26

Rep. Gwen Moore thinks HR 1628, the Public Pension Transparency Act introduced last week by Reps. Devin Nunes, Paul Ryan and Darrell Issa, proceeds from a false premise, which causes the bill to introduce opacity rather than transparency of disclosure into the market, and intrudes on state sovereignty and policy preferences in order to attack public workers and pensions.

Commentary: Bonding the Nation Back Together

By Frank Shafroth |  Apr 24

The timing of twin proposals by Rep. Devin Nunes and Messieurs Erskine Bowles and Alan Simpson, which threatren state and local tax-exempt municipal bonds, could not have been worse.

Analysis: Charter Schools Debt Issuance in 2013

By Edward Krauss and Patricia McGuigan |  Apr 23

New issue bond activity for charter schools in the first quarter reflects diversity in both charter schools and issuance characteristics.

Commentary: Refunding Escrow Purchases Again at Risk

By Sam Gruer and Matt Roggenburg |  Apr 22

Absent any further action by Congress, on May 19 the debt ceiling will automatically reset to the nation's debt level. This has important implications for municipal issuers selling refunding debt near this date.

Commentary: The Zero-Sum Game of an Exemption Cap

By Daniel S. Solender, CFA |  Apr 12

The proposed cap of 28% may be a zero-sum game at best because it could increase costs for nearly all taxpayers. While there are additional arguments against adjusting the municipal tax exemption, the culmination of these factors indicates that such a significant change could alter what has served as one of the most efficient forms of government and infrastructure financing for more than a century.

Commentary: The Inevitable Bursting of the Muni Market Bubble

By James Hardaway Jr. |  Apr 11

In the next few years, the Treasury plans to completely "wind down" Fannie Mae and Freddie Mac, and the impact on the pre-refunded and escrowed-to-maturity municipal securities will be devastating.