Seeking Alpha

Citi still bearish on munis for H2

  • Acknowledging recent heavier municipal issuance of late has been met by solid demand, Citi nevertheless sees "significant reasons for concern," notably anemic muni bond fund flows. With issuance continuing on the heavy side, the team wonders about the capacity of the market to hold unless fund flows rebound. Toss in possibly rising Treasury yields and the effect could be magnified.
  • "We are not, however, suggesting that a very sharp selloff is likely," says Citi noting a huge amount of cash on the sidelines waiting to buy on any significant rebound in yields.
  • ETFs: MUB, PZA, MUNI, TFI, ITM, MLN, SHM, XMPT, PRB, SMB, SUB, PVI, SMMU, MUAF, VRD, MUAE, GMMB, MUAD, MUAC, MUAG, MUAH, RVNU, FMB
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Comments (2)
  • ARG1
    , contributor
    Comments (1148) | Send Message
     
    PML muni bond fund

     

    Insider Relation Last Date ▼ Transaction Type OwnerType Shares Traded Last Price Shares Held
    GROSS WILLIAM H Other 06/25/2014 Buy direct 19,044 11.9920 366,046
    GROSS WILLIAM H Other 06/09/2014 Buy direct 8,200 12.1217 347,002
    GROSS WILLIAM H Other 05/13/2014 Buy direct 61,692 11.9258 338,802

     

    Read more: http://bit.ly/1olVLcd
    5 Jul 2014, 11:30 AM Reply Like
  • ARG1
    , contributor
    Comments (1148) | Send Message
     
    Bill gross was right and Citi was wrong again.
    21 Dec 2014, 09:20 PM Reply Like
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