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Why munis may still make sense after the Puerto Rico default
The July 1 default by Puerto Rico could temporarily put stress on the municipal bond market The federal PROMESA bill, while not a bailout, offers a long-term path for Puerto Rico’s debt restructuring,...
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Tightening supply lifts muni market
Shifting priorities for state and local municipalities is limiting new issuance in the municipal bond market, and supply has not kept pace with a rising demand. Municipal bond issuance is down nearly...
View ArticleBetter state finances support tax-exempt bonds
With revenues on the rise, the fiscal health of many states is improving. In a survey conducted in the fall of 2012, the National Conference of State Legislatures found “solid revenue performance” in...
View ArticleMunicipal bond market still has tailwinds
While recent strong results from tax-exempt municipal bonds may prompt concerns about valuations and risks, we believe the sector continues to offer attractive investment characteristics.
View ArticleA surge in re-fundings adds demand for munis
A rising pace of refinancings by municipalities to take advantage of today’s low interest rates has become another source of demand for municipal bonds, and strengthens the overall condition of the...
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