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State and local governments amassed their biggest-ever debt burden during the fourth quarter, meeting demand from retail buyers and a broadened investor base driven by federal stimulus programs.
March 11 -
A debate is brewing in the municipal bond exchange-traded fund industry.
March 10 -
Investors continue to stuff municipal bond mutual funds with cash, supporting bond prices even as by some measures they are nearly as expensive as they have ever been.
March 5 -
State and local governments are getting very little help from earnings on their investments at the precise time they need it most.
March 4 -
Short-term interest rates near zero are a bonanza for the closed-end fund industry. If only they lasted forever.
March 3 -
Nuveen Investments last month proposed the latest in a proliferation of investment vehicles devoted to Build America Bonds: a BAB closed-end fund.
March 3 -
Money continued to flood municipal bond mutual funds at a steady pace last week, as continuing concerns about state and local government credit and a hike in the Federal Reserve’s discount rate did little to deter investors.
February 26 -
Oppenheimer & Co. agreed to buy back from clients tens of millions of dollars of auction-rate securities under settlements with two states announced yesterday.The New York-based investment bank was accused by New York and Massachusetts of marketing ARS as safe, liquid alternatives to cash, without explaining the risks.
February 24 -
For anyone still not convinced that Build America Bonds are transforming state and local government finance, behold a municipal bond mutual fund that has filed a prospectus in French.
February 23 -
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The river of new money flowing into municipal bond mutual funds shows no sign of subsiding, rebounding the past two weeks after a brief dip at the beginning of the month.
February 19 -
Of all the risks facing owners of Build America Bonds, a spike in interest rates is one of the most alarming. Cumberland Advisors thinks it has found a way to neutralize this risk. The Vineland, N.J.-based firm is sympathetic to clients who are buffeted on both sides.
February 18 -
David Shulman, the former head of municipal securities at UBS AG, has agreed to pay $2.8 million to settle allegations he dumped his personal holdings of student loan auction-rate securities after acquiring inside information.
February 18 -
David Shulman, the former head of municipal securities at UBS AG, has agreed to pay $2.8 million to settle allegations he dumped his personal holdings of student loan auction-rate securities after acquiring inside information.
February 18 -
Near-zero yields on safe havens continue to feed municipal bond mutual funds.
February 12 -
A handful of states raised income tax rates last year — particularly on the wealthy — as tax receipts suffered a historic plunge.
February 12 -
The rating agencies may be poised to give California bondholders a breather. The bond market is not.
February 11 -
In proposing to renew the Build America Bonds program, the Obama administration last week set an audacious goal: more benefit at the same cost.
February 8 -
The federal government expects to recoup through taxes most of the subsidies it pays on Build America Bonds, according to the federal budget released this week.
February 4 -
If anyone was thinking about buying Ambac Financial Group Inc., the process just got harder.
February 3
