In Muni Sector, High-Yield Bonds Are Cooling, but State Bonds Are Hot
Municipal bonds tied to the tobacco settlement have been hot lately, returning over 19% so far this year, but that doesn’t mean investors should inhale, says an S&P analyst.
First Eagle Fund Soars in High Yield Space
The fund has gone from $20 million in AUM to $600 million since the beginning of 2012, all from retail inflows.
Muni Bond Danger Lurks Where Investors Don’t Suspect It
While the vast majority of traditional, plain-vanilla muni bonds carry virtually no risk of default, the real danger lurking in muni bonds comes from an overlooked area of the market.
6 U.S. Cities on the Edge of a Fiscal Cliff
With recent warnings and downgrades from Moody’s, these municipalities may follow the likes of Stockton and Central Falls into bankruptcy.
Asset Manager Urges San Bernardino Bondholders: Don’t Panic
As municipal bondholders worry about how to protect themselves from the impending bankruptcy of San Bernardino, Calif., separate account bond manager Asset Dedication is telling clients not to panic.
Whitney on Dimon’s Testimony: ‘He’s the Antithesis of Blankfein’
“He charms,” Meredith Whitney said. “He’s incredible. He gave the senators a massage and they gave him a massage back.”
5 High-Profile Muni Bond Busts
Whitney was wrong, but high-profile defaults did occur, spooking markets and piquing analysts.
2012 SMA Fixed Income Award: Gannett Welsh & Kotler LLC
Predictions of mass default, European sovereign debt, outlooks from Bill Gross, Bernanke’s shenanigans—anyone still think fixed income isn’t “sexy?”
Forget Meredith Whitney, as Muni Lawyer Predicts New Bankruptcy Wave
Meredith Whitney was taken to task last year after predicting ‘significant’ muni defaults, but public finance lawyer Dubrow says he can see a wave of Chapter 9 bankruptcies coming.
2012 SMA Managers of the Year: Calm, Cool and Confident
The one thing seen among all of these winners? “Dividend yield,” says Gib Watson, president and CEO of Prima Capital, IA's longtime partner in choosing the annual Separately Managed Account Managers of the Year.