Thu, Oct. 1, 1:35 PM
Tue, Sep. 1, 1:13 PM
Mon, Aug. 3, 4:00 PM
Fri, Jul. 3, 3:17 AM
- Marking another sign of the state's financial recovery, the one-notch upgrade to "AA-" from "A+" gives California GO debt the highest rating from S&P since 2000 - when the dot-com bust hammered the state's economy.
- California's new budget, "marks another step forward in the state's journey toward improved fiscal sustainability," said the agency's report.
- California now outranks Illinois and New Jersey and is tied with Michigan and Pennsylvania.
- ETFs: PCK, VCV, BFZ, PCQ, PZC, MCA, NAC, NKX, MUC, CMF, MYC, CCA, NZH, EVM, PWZ, AKP, NCA, NVX, CEV, EIA, BJZ, CXA, NXC, NCB, NBW
Wed, Jul. 1, 2:30 PM
Mon, Jun. 1, 2:45 PM
Fri, May 1, 2:10 PM
Fri, Apr. 17, 1:54 AM
- In a change of heart, the Federal Reserve will allow big U.S. banks to use some types of municipal bonds to meet new rules that ensure they have enough cash during a market meltdown, WSJ reports.
- At issue is the treatment of municipal debt under new liquidity requirements, which call for large banks to hold enough "high-quality liquid assets" to fund their operations for 30 days.
- Other regulators, including the OCC and FDIC, do not plan to follow the Fed's new criteria.
- ETFs: MUB, HYD, BAB, PZA, MUNI, HYMB, TFI, XMPT, ITM, MLN, BABS, SHM, CMF, SHYD, PRB, NYF, PZT, SUB, SMB, PWZ, CXA, IBMF, PVI, RVNU, INY, SMMU, IBMG, IBME, IBMD, GMMB, FMB, IBMI, IBMH, MEAR
Wed, Apr. 1, 12:47 PM
Mon, Mar. 2, 1:40 PM
Mon, Feb. 2, 3:36 PM
Dec. 29, 2014, 1:54 PM
Dec. 1, 2014, 10:58 AM
Nov. 3, 2014, 1:45 PM
Oct. 31, 2014, 2:53 PM
- "October 1 was an academic exercise," says a pension-law expert. "[Thursday] was a reality check." The lawyer is referring to a bankruptcy judge yesterday approving Stockton, CA's reorganization plan which leaves untouched its pension obligations. On Oct. 1 that same judge had ruled Stockton could cut its payments to Calpers as it emerged from bankruptcy.
- Ultimately, city managers - already faced with a hard time retaining municipal workers - decided slashing pension benefits would force an even quicker rush to the exits.
- Losers when the ruling was issued, government pension plans and organized government labor groups are pleased, but advocates for pension reform say the reorganization plan is a mistake as it allows the city to exit bankruptcy without dealing with the pension obligations which helped put it there in the first place.
- Monolines today: Ambac (AMBC +4.7%), Assured Guaranty (AGO +1.8%), MBIA (MBI +1.1%).
- Muni ETFs: MUB, PZA, TFI, CMF, XMPT, PRB, PWZ, CXA, PVI, RVNU, VRD, FMB
Oct. 17, 2014, 4:10 AM
- Detroit has taken a major step towards exiting bankruptcy protection after agreeing to a deal with with its largest holdout creditor, Financial Guaranty Insurance Company, which is owed $1B.
- Under the settlement, Financial Guaranty will have the rights to develop a hotel, retail and condominium complex on the site of the Joe Louis Arena, the soon-to-be-vacant home the Detroit Red Wings hockey team.
- The dispute between Detroit and Financial Guaranty had threatened other important deals that the city had forged with thousands of creditors.
- ETFS: MUB, HYD, BAB, PZA, MUNI, TFI, ITM, HYMB, MLN, CMF, SHM, BABS, XMPT, PRB, SUB, PZT, SMB, NYF, SHYD, CXA, PWZ, PVI, SMMU, INY, VRD, GMMB, RVNU
CXA vs. ETF Alternatives
The SPDR® Barclays Capital California Municipal Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays Capital Managed Money Municipal California Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
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- In Your Portfolio: Broad U.S. Bond ETFs, A Guide to Municipal Bond ETFs and Closed-End Funds
- Asset Class Performance: Bonds ETFs
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