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Friday, December 21, 2012, 12:18 PM Panic gripping the municipal bond sector might be a buying opportunity. Amid worries of the future of the tax exemption, $2.8B fled the sector last week - the sort of numbers not seen since 2 years ago when tobacco bonds were downgraded. "Shocking," says RBS' Chris Mauro, expecting cooler heads to prevail in the new year. 1 Comment [U.S. Economy, Financials]
Thursday, March 22, 2012, 10:59 AM Where do municipal bonds go after giving back much of their big early YTD gains alongside the rise in Treasury yields? While yields are no longer at the "absurdly high" ratio of 150% of Treasurys seen last fall, at 115-120%, they remain well above pre-crisis norms of 85-95%, writes John Mousseau, continuing to see value in the sector. Comment! [U.S. Economy]
Saturday, February 4, 2012, 8:15 AM The "fade Whitney" trade may be getting close to played out as municipals tack a 2.31% rise in January onto a 10.7% gain in 2011, with yields for top-rated paper now at or near all-time lows. Lower-rated munis offer the best relative value, says Jim Kochan, but investors should expect coupon income and nothing more for the rest of the year. 2 Comments [U.S. Economy, Quick Ideas]
Monday, June 6, 2011, 3:27 PM Once more unto the breach for Meredith Whitney who, armed with comprehensive data, continues to insist state finances are far worse than commonly thought. Of particular note is unfunded pension liabilities, kept off state balance sheets, but 3X larger than on-balance sheet debt. 7 Comments [U.S. Economy]
Friday, April 8, 2011, 8:48 AM Investors pulled another $1.15B out of muni bond funds last week, the 21st straight week of outflows totalling more than $30B. Equity funds took in $7.7B, led by emerging market equities at $2.7B - the fourth-largest weekly tally in almost 20 years. 1 Comment
Thursday, April 7, 2011, 12:19 PM Could a bipartisan bill introduced Tuesday really put the muni-bond tax exemption out to pasture? 3 Comments
Wednesday, January 12, 2011, 8:51 AM To temper Jamie Dimon's bearishness on muni bonds, a bullish note from DoubleLine Capital's Greg Whitely, who says a blanket dismissal of the muni sector "would be a big mistake." The end of the Build America Bonds program "creates a very favorable supply/demand dynamic in a sector replete with liquid, high-quality and high-yielding bonds." 1 Comment
Wednesday, January 12, 2011, 8:36 AM "If you are an investor in municipals you should be very, very careful," JPMorgan CEO Jamie Dimon warns. He expects more municipal bankruptcies this year, as states contend with $140B in deficits. 3 Comments
Tuesday, November 16, 2010, 7:55 AM Muni bond funds continued to plummet Monday on heavy volume led by California (CMF, CXA, PWZ) and long-term funds (MLN). In contrast, NY State munis fared much better (NYF, PZT, INY). However, Robert Kane believes that despite the declines, muni bond investors are still twice as likely to buy as they are to sell. 1 Comment

INY SPDR Barclays New York Municipal Bond ETF

INY

SPDR Barclays New York Municipal Bond ETF