NCA - News and Analysis from Seeking Alpha 'NCA' Tag RSS Syndication from SeekingAlpha.com SeekingAlpha.com http://seekingalpha.com/symbol/nca Why the Government Doesn't Belong in the Municipal Bond Business http://seekingalpha.com/article/136864-why-the-government-doesn-t-belong-in-the-municipal-bond-business?source=feed 136864 Somehow I missed this but that doesn’t mean anything, I miss a lot of things. So if you’re up to speed on the government providing reinsurance for municipal bonds then skip this post.

If not, here is a little blurb I found on Fox Business:

]]> Mon, 11 May 2009 04:44:58 -0400 Tom Lindmark Tom Lindmark submits:

Somehow I missed this but that doesn’t mean anything, I miss a lot of things. So if you’re up to speed on the government providing reinsurance for municipal bonds then skip this post.

If not, here is a little blurb I found on Fox Business:


Complete Story »]]> EMC BJZ PGM PYM PMH PMN NAZ NUV NIO EIM MYI NPI NPP SEL NGX MAF BCK BCL BFZ BAF BBF BYM BFK BLE BNJ BSE BNY BFY CXE CMU CEV FEV MMV EMI EVN EVJ EVY EVO EVP MFM IIC IIM OIB OIC OIA PIA IQI MAV MHI PMM KSM VKI VCV VMV LEO NPV IMT AFB AYN NAD NMO PCK NPF NCL PCQ PMX NMP NPX NPG PNF NUM NMZ PMF PZC NNF NTX NPY NUN NIF NNJ NPT NNC NFL NUF PML NMY NQU NPC NUO NMI NMT MHF NPM MUI VFL EVM BLJ BQH BZA BKK CXH DMF FMN BIE XAA BPK BBK DSM APX NBW FPT BTA MZF BZM BFO BHV MXN MXA BPS CCA BLH VCF NFZ VAZ VMM EIA MNE PIF PPM NXZ NZF NMA NQS NVG NVX NZH NAC IQT NBH NCO NVC NQF NKO NQI NZW NXJ NUJ NXK NAN NNP NVN NXM IQC NBO NCP NCU NUC NWF NVJ NVY EIV ENX NKR NQC NEA NQN NRB NXI NBJ SBI MIW NCA NZX NKX NZR NMB NQJ NQP NNB EMJ NYH EIP NXE NGK NRK NFM NWI NIM EIF MAB EIO IMS NGO NKG NNY NNO NII IQN NFC NTC NGB ICS NOM BKN BSD VGM MNP PNI VKL VMO VPV VTF PYN VIM VTN PMG BRM VOQ MMU PMO VTJ NXR NXP NXQ BFC BLN NXC NXN MPT DTF BMT AKB BRF IQM MCA MEN MFL MFT MHD MHE MHN MIY MJI MPA MQT MQY MUA MUC MUE MUH MUJ MUS MVF MVT MYC MYD MYF MYJ MYM MYN MZA NKL JQM RAA RFA RNJ RNY VKQ MUB TFI SMB MLN ITM PZA CMF NYF BRK.A Tom Lindmark Municipal Bonds: Time for a Closer Look http://seekingalpha.com/article/127953-municipal-bonds-time-for-a-closer-look?source=feed 127953 In the fourth quarter of 2008, the municipal bond market collapsed along with the rest of the credit markets. Lately there has been a small revival. Still, depressed bond prices and wide spread credit concerns leave open big opportunities for investors in the new issue and secondary market, if you know where to look.

Long maturity tax exempts on average now yield 130% of comparable Treasury bonds and that’s before the exemption benefit. A portion of that differential may be attributed to what many have termed artificially low Treasury rates. Not that long ago, exempt yields averaged 75% of Treasuries. At no time since the 1930’s, has a full understanding of municipal credit risk been more valuable.

]]> Thu, 26 Mar 2009 06:25:48 -0400 Carl Dincesen Carl Dincesen submits:

In the fourth quarter of 2008, the municipal bond market collapsed along with the rest of the credit markets. Lately there has been a small revival. Still, depressed bond prices and wide spread credit concerns leave open big opportunities for investors in the new issue and secondary market, if you know where to look.

Long maturity tax exempts on average now yield 130% of comparable Treasury bonds and that’s before the exemption benefit. A portion of that differential may be attributed to what many have termed artificially low Treasury rates. Not that long ago, exempt yields averaged 75% of Treasuries. At no time since the 1930’s, has a full understanding of municipal credit risk been more valuable.


Complete Story »]]> EMC BJZ PGM PYM PMH PMN NAZ NUV NIO EIM MYI NPI NPP SEL NGX MAF BCK BCL BFZ BAF BBF BYM BFK BLE BNJ BSE BNY BFY CXE CMU CEV FEV MMV EMI EVN EVJ EVY EVO EVP MFM IIC IIM OIB OIC OIA PIA IQI MAV MHI PMM KSM VKI VCV VMV LEO NPV IMT AFB AYN NAD NMO PCK NPF NCL PCQ PMX NMP NPX NPG PNF NUM NMZ PMF PZC NNF NTX NPY NUN NIF NNJ NPT NNC NFL NUF PML NMY NQU NPC NUO NMI NMT MHF NPM MUI VFL EVM BLJ BQH BZA BKK CXH DMF FMN BIE XAA BPK BBK DSM APX NBW FPT BTA MZF BZM BFO BHV MXN MXA BPS CCA BLH VCF NFZ VAZ VMM EIA MNE PIF PPM NXZ NZF NMA NQS NVG NVX NZH NAC IQT NBH NCO NVC NQF NKO NQI NZW NXJ NUJ NXK NAN NNP NVN NXM IQC NBO NCP NCU NUC NWF NVJ NVY EIV ENX NKR NQC NEA NQN NRB NXI NBJ SBI MIW NCA NZX NKX NZR NMB NQJ NQP NNB EMJ NYH EIP NXE NGK NRK NFM NWI NIM EIF MAB EIO IMS NGO NKG NNY NNO NII IQN NFC NTC NGB ICS NOM BKN BSD VGM MNP PNI VKL VMO VPV VTF PYN VIM VTN PMG BRM VOQ MMU PMO VTJ NXR NXP NXQ BFC BLN NXC NXN MPT DTF BMT AKB BRF IQM MCA MEN MFL MFT MHD MHE MHN MIY MJI MPA MQT MQY MUA MUC MUE MUH MUJ MUS MVF MVT MYC MYD MYF MYJ MYM MYN MZA NKL JQM RAA RFA RNJ RNY VKQ MUB TFI SMB MLN ITM PZA CMF NYF Carl Dincesen Municipal Default Alert: Vallejo, California http://seekingalpha.com/article/66767-municipal-default-alert-vallejo-california?source=feed 66767 Do municipal bonds really never default? The Californian town of Vallejo seems to have gotten very close. Portfolio's Liz Gunnison filled me in on the details of the city's bonds, from Bond Buyer:

The city government and its related enterprises had about $201.1 million of outstanding bonds and certificates of participation as of June 30, according to the city's most recent comprehensive annual financial report.

]]> Sun, 02 Mar 2008 09:47:27 -0500 Felix Salmon Felix Salmon submits:

Do municipal bonds really never default? The Californian town of Vallejo seems to have gotten very close. Portfolio's Liz Gunnison filled me in on the details of the city's bonds, from Bond Buyer:

The city government and its related enterprises had about $201.1 million of outstanding bonds and certificates of participation as of June 30, according to the city's most recent comprehensive annual financial report.


Complete Story »]]> MYC BZA CEV IQC NCA Felix Salmon Municipal Bond ETFs and Closed-End Funds http://seekingalpha.com/article/30356-municipal-bond-etfs-and-closed-end-funds?source=feed 30356 National Municipal Bond ETFs
(click on symbol for data and articles)

iShares S&P National Municipal Bond Fund (MUB)
Market Vectors-Lehman Brothers AMT-Free Short Municipal Index ETF (SMB)
Market Vectors-Lehman Brothers AMT-Free Intermediate Continuous Municipal Index (ITM)
Market Vectors-Lehman Brothers AMT-Free Long Continuous Municipal Index (MLN)
PIMCO Intermediate Municipal Bond Strategy Fund (MUNI)
PowerShares Insured National Municipal Bond Portfolio (PZA)
SPDR Lehman Municipal Bond ETF (TFI)

]]> Mon, 16 Jul 2007 00:11:23 -0400 SA Editors National Municipal Bond ETFs
(click on symbol for data and articles)

iShares S&P National Municipal Bond Fund (MUB)
Market Vectors-Lehman Brothers AMT-Free Short Municipal Index ETF (SMB)
Market Vectors-Lehman Brothers AMT-Free Intermediate Continuous Municipal Index (ITM)
Market Vectors-Lehman Brothers AMT-Free Long Continuous Municipal Index (MLN)
PIMCO Intermediate Municipal Bond Strategy Fund (MUNI)
PowerShares Insured National Municipal Bond Portfolio (PZA)
SPDR Lehman Municipal Bond ETF (TFI)


Complete Story »]]> EMC BJZ PGM PYM PMH PMN NAZ NUV NIO EIM MYI NPI NPP SEL NGX MAF BCK BCL BFZ BAF BBF BYM BFK BLE BNJ BSE BNY BFY CXE CMU CEV FEV MMV EMI EVN EVJ EVY EVO EVP MFM IIC IIM OIB OIC OIA PIA IQI MAV MHI PMM KSM VKI VCV VMV LEO NPV IMT AFB AYN NAD NMO PCK NPF NCL PCQ PMX NMP NPX NPG PNF NUM NMZ PMF PZC NNF NTX NPY NUN NIF NNJ NPT NNC NFL NUF PML NMY NQU NPC NUO NMI NMT MHF NPM MUI VFL EVM BLJ BQH BZA BKK CXH DMF FMN BIE XAA BPK BBK DSM APX NBW FPT BTA MZF BZM BFO BHV MXN MXA BPS CCA BLH VCF NFZ VAZ VMM EIA MNE PIF PPM NXZ NZF NMA NQS NVG NVX NZH NAC IQT NBH NCO NVC NQF NKO NQI NZW NXJ NUJ NXK NAN NNP NVN NXM IQC NBO NCP NCU NUC NWF NVJ NVY EIV ENX NKR NQC NEA NQN NRB NXI NBJ SBI MIW NCA NZX NKX NZR NMB NQJ NQP NNB EMJ NYH EIP NXE NGK NRK NFM NWI NIM EIF MAB EIO IMS NGO NKG NNY NNO NII IQN NFC NTC NGB ICS NOM BKN BSD VGM MNP PNI VKL VMO VPV VTF PYN VIM VTN PMG BRM VOQ MMU PMO VTJ NXR NXP NXQ BFC BLN NXC NXN MPT DTF BMT AKB BRF IQM MCA MEN MFL MFT MHD MHE MHN MIY MJI MPA MQT MQY MUA MUC MUE MUH MUJ MUS MVF MVT MYC MYD MYF MYJ MYM MYN MZA NKL JQM RAA RFA RNJ RNY VKQ MUB TFI SMB MLN ITM PZA CMF NYF MUNI SA Editors 240 Tax-Free Income CEFs http://seekingalpha.com/article/34251-240-tax-free-income-cefs?source=feed 34251

Remember that, the dividends may fluctuate, the share price will fluctuate, and the CEFs are not guaranteed by any governmental entity. Also, the dividends from some of these may be only partially tax- free. It is important to contact the company to verify the tax status of dividends before investing, and to contact your tax preparer regarding any tax issues.

]]> Thu, 03 May 2007 07:25:49 -0400 Stockerblog Stockerblog submits: These are closed-end funds [with a few exceptions] that pay dividends that are free of federal income taxes, and they all trade on either the New York Stock Exchange or American Stock Exchange. The dividends are tax-free because the closed-end funds on this list own municipal bonds in their portfolios.

Remember that, the dividends may fluctuate, the share price will fluctuate, and the CEFs are not guaranteed by any governmental entity. Also, the dividends from some of these may be only partially tax- free. It is important to contact the company to verify the tax status of dividends before investing, and to contact your tax preparer regarding any tax issues.


Complete Story »]]> BJZ PGM PYM PMH NAZ NUV NIO EIM NPI NPP SEL NGX BCK BCL BFZ BAF BBF BYM BFK BLE BNJ BSE BNY BFY CXE CMU CEV FEV MMV EMI EVN EVJ EVY EVO EVP MFM IIC IIM OIB OIC OIA PIA IQI MAV MHI PMM KTF KSM VKI VCV VMV LEO NPV IMT AKP AFB AMU AYN NAD NMO PCK NPF NCL PCQ PMX NMP NPX NPG PNF NUM NMZ PMF PZC NNF NTX NPY NUN NIF NNJ NPT NNC NFL NUF PML NMY NQU NPC NUO NMI NMT MHF NPM MUI VFL CFX EVM BLJ BQH BZA BKK CXH DMF FMN BIE XAA BPK BBK DSM APX NBW FPT BTA MZF BZM BFO BHV MXN MXA BPS CCA BLH VCF NFZ VAZ VMM EIA MNE PIF PPM MMA NXZ NZF NMA NQM NQS NVG NVX NZH NAC IQT NBH NCO NVC NQF NKO NQI NZW NXJ NUJ NXK NAN NNP NVN NXM IQC NBO NCP NCU NUC NWF NVJ NVY EIV ENX NKR NQC NEA NQN NRB NXI NBJ SBI MIW NCA NZX NKX NZR NMB NQJ NQP NNB EMJ NYH EIP NXE NGK NRK NFM NWI NIM EIF MAB EIO IMS NGO NKG NNY NNO NII IQN NFC NTC NGB ICS NOM TYW BKN BSD VGM MNP PNI VKL VMO VPV VTF PYN VIM VTN PBF PMG BRM VOQ MMU PMO VTJ NXR NXP NXQ BFC BLN NXC NXN MPT DTF BMT Stockerblog Tax-Free Closed-End Funds and Stocks For Income Investing http://seekingalpha.com/article/33016-tax-free-closed-end-funds-and-stocks-for-income-investing?source=feed 33016

The advantages of owning these types of closed end funds over owning individual municipal bonds directly are greater liquidity, no minimum investment, and greater diversification. In addition, the income from some of these may be exempt from state taxes. Ask your accountant about this and all other tax aspects of these CEFs before investing. A disadvantage is that the CEFs may sell above net asset value.

]]> Mon, 23 Apr 2007 00:37:37 -0400 Stockerblog Stockerblog submits: Below is a list of stocks that pay dividends that are free of federal income taxes. For purposes of this list and most of my other stock lists, I consider a 'stock' to be any security that trades on the New York Stock Exchange or American Stock Exchange that is not a bond, a warrant or an option. That means a stock can include closed end funds (CEFs - which most of the stocks on this list are), REITs, oil royalty income trusts, Canadian royalty trusts, etc. The dividends are tax free because the closed end funds on this list own municipal bonds in their portfolio.

The advantages of owning these types of closed end funds over owning individual municipal bonds directly are greater liquidity, no minimum investment, and greater diversification. In addition, the income from some of these may be exempt from state taxes. Ask your accountant about this and all other tax aspects of these CEFs before investing. A disadvantage is that the CEFs may sell above net asset value.


Complete Story »]]> BJZ NAZ NUV NIO EIM NPI NPP NGX BCK BCL BFZ BAF BBF BYM BFK BLE BNJ BSE BNY BFY CXE CMU CEV FEV MMV EMI EVN EVJ EVY EVO EVP MFM IIC IIM OIB OIC OIA PIA IQI KTF KSM LEO NPV IMT AKP AFB AMU AYN NAD NMO NPF PCQ NMP NPX NPG NUM NMZ NNF NTX NPY NUN NIF NNJ NPT NNC NFL NUF NMY NQU NPC NUO NMI NMT NPM MUI VFL CFX EVM BLJ BQH BZA BKK CXH DMF FMN BIE XAA BPK BBK DSM APX NBW FPT BTA MZF BZM BFO BHV MXN MXA BPS CCA VCF NFZ VAZ VMM EIA MNE PIF PPM MMA NXZ NZF NMA NQM NQS NVG NVX NZH NAC IQT NBH NCO NVC NQF NKO NQI NZW NXJ NUJ NXK NAN NNP NVN NXM IQC NBO NCP NCU NWF NVJ NVY EIV ENX NKR NQC NEA NQN NRB NXI NBJ SBI MIW NCA NZR NMB NQJ NQP NNB EMJ NYH EIP NXE NGK NRK NFM NWI NIM EIF MAB EIO IMS NGO NKG NNY NNO NII IQN NFC NTC NGB ICS NOM Stockerblog