Detroit Reorganizes. The Muni Market Takes Notes.
AllianceBernstein - Seeking Alpha - Wed Feb 04, 7:03PM CST
By Joe Rosenblum Stockton. San Bernardino, California. Jefferson County, Alabama. Over the past few years, municipal bankruptcies (Chapter 9) have captured headlines. Detroit’s case, the largest municipal bankruptcy in history, was recently...
RVNU: 26.11 (+0.06), CMF: 117.64 (-0.12), VRD: 29.81 (-0.02), CXA: 24.00 (-0.03), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PWZ: 25.67 (-0.14), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
Municipal Bonds: What Comes After Perfect?
Peter Hayes - at Seeking Alpha - Wed Feb 04, 2:13AM CST
As records go, you can't beat 12 for 12. Perfection is good... and bad. Muni investors enjoyed a perfect run in 2014, as the market notched a positive return each and every month, leading the S&P Municipal Bond Index to an annual return of...
RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
Is The Dollar's Momentum Easing? Is A Deeper Pullback In The Stock Market Likely?
Marc Chandler - Seeking Alpha - Sat Jan 31, 10:39AM CST
The US dollar turned in a mixed performance in the last week of January. It slipped against the euro, yen, sterling and the Swedish krona, while rising against the other G10 currencies. The Swiss franc was the weakest of the majors, losing about...
OLO: 7.58 (+0.02), FXA: 77.69 (+0.23), BNO: 23.05 (+0.78), TFI: 24.12 (-0.02), TLT: 128.19 (-1.33), PVI: 24.94 (-0.01), SPY: 209.78 (+0.86), RVNU: 26.11 (+0.06), DNO: 54.24 (-1.32), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), OIL: 12.01 (+0.34), FXB: 151.21 (+0.01), FXC: 79.78 (+0.19), FXE: 112.16 (-0.15), OLEM: 25.07 (+0.30), FXF: 104.56 (-0.56), USO: 19.62 (+0.44), UCO: 9.19 (+0.39), DTO: 81.31 (-5.12), MUB: 109.95 (-0.13), UWTI: 3.71 (+0.23), XMPT: 26.55 (-0.02), SCO: 70.05 (-3.45), UUP: 24.91 (-0.01), FMB: 51.97 (-0.03), TAPR: 31.63 (+0.44), SZO: 60.00 (-4.31), DBO: 14.88 (+0.08), PZA: 25.34 (-0.13), DWTI: 95.90 (-7.40), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21), USL: 26.81 (+0.40)
Oil Price Drop Will Have Varying Impacts On Municipals; Local Governments Appear Most At Risk
Montage Investments - Seeking Alpha - Fri Jan 30, 10:51AM CST
The domestic oil industry has experienced a dramatic resurgence in production since 2011 and is nearing the historic peak production level of 1970. Low interest rates and technology developments have driven production growth to annual rates of...
RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
Shifting Foundation Of Junk
Joseph Calhoun - at Seeking Alpha - Tue Jan 27, 12:41AM CST
By Jeffrey P. Snider The energy sector may account for a good proportion of risky credit, but that doesn't necessarily mean that all negative price action in high yield and junk is entirely energy. While certain markets have regained comfort with...
RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
New Ideas For Bond Investors
Jeffrey Rosenberg - at Seeking Alpha - Mon Jan 26, 1:54PM CST
As resolutions go, rethinking your fixed-income portfolio may not resonate in quite the same way as dropping 10 pounds or finally giving up that smoking habit. But if ever there was an opportunity to reassess how you approach bond investing, now is...
LDUR: 100.51 (-0.11), FBND: 50.52 (-0.06), TFI: 24.12 (-0.02), PVI: 24.94 (-0.01), IUSB: 101.13 (-0.22), GBF: 115.03 (-0.39), RVNU: 26.11 (+0.06), PRB: 24.60 (+0.07), VRD: 29.81 (-0.02), AGG: 110.76 (-0.13), DI: 49.57 (+0.02), SCHZ: 52.63 (-0.01), BOND: 109.14 (-0.10), MUB: 109.95 (-0.13), VBND: 50.07 (-0.09), FWDB: 25.72 (+0.01), XMPT: 26.55 (-0.02), FMB: 51.97 (-0.03), SAGG: 32.96 (unch), TAPR: 31.63 (+0.44), LAG: 58.58 (-0.10), PZA: 25.34 (-0.13), BND: 82.80 (-0.19), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Vanguard files to launch low-cost muni-bond funds
Seeking Alpha - at Seeking Alpha - Wed Jan 07, 2:49PM CST
RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
No Rate Increase In 2015
Roger McKinney - Seeking Alpha - Mon Jan 05, 5:03AM CST
Mainstream economists and financial experts warned us early in 2014 to stay away from bonds because the Fed would raise interest rates and as everyone knows rising interest rates shoot buckshot-sized holes in bond portfolios. So most people avoided...
EMSA: 81.61 (unch), EMCR: 21.13 (+0.35), EET: 71.75 (+1.52), TFI: 24.12 (-0.02), EEV: 18.10 (-0.44), SCHE: 24.91 (+0.24), DBEM: 22.23 (+0.13), XSOE: 25.37 (+0.46), EUM: 25.25 (-0.30), PVI: 24.94 (-0.01), ADRE: 36.88 (+0.49), EEM: 40.67 (+0.46), RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), FEM: 22.44 (+0.16), GMM: 65.67 (+0.63), EMFT: 46.34 (-0.16), EMLB: 96.30 (unch), EWEM: 33.25 (unch), EDZ: 32.61 (-1.19), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), FMB: 51.97 (-0.03), EEME: 45.57 (+0.77), HEEM: 24.53 (+0.14), EDC: 25.03 (+0.81), VWO: 41.78 (+0.42), PZA: 25.34 (-0.13), IEMG: 48.87 (+0.48)
The 2014 Commy Awards
Jeff Malec - Seeking Alpha - Wed Dec 31, 5:24AM CST
There's the Emmy Awards, the Webby's, the ESPY's, (why do they all end in y), but no commodity awards as far as we know… Let's see if we can do something about that, with the first (and perhaps last) edition of the Commy Awards: (All Charts...
JO: 29.81 (-0.02), OLO: 7.58 (+0.02), OUNZ: 12.26 (+0.06), BNO: 23.05 (+0.78), TFI: 24.12 (-0.02), USDU: 27.70 (unch), CAFE: 20.95 (+1.13), PVI: 24.94 (-0.01), SGOL: 120.32 (+0.59), RVNU: 26.11 (+0.06), DNO: 54.24 (-1.32), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), OIL: 12.01 (+0.34), AGG: 110.76 (-0.13), OLEM: 25.07 (+0.30), UDNT: 10.42 (-0.02), USO: 19.62 (+0.44), UCO: 9.19 (+0.39), DTO: 81.31 (-5.12), MUB: 109.95 (-0.13), UUPT: 29.68 (-0.04), XMPT: 26.55 (-0.02), UWTI: 3.71 (+0.23), SCO: 70.05 (-3.45), UUP: 24.91 (-0.01), FMB: 51.97 (-0.03), SZO: 60.00 (-4.31), DBO: 14.88 (+0.08), GLD: 117.98 (+0.64), CORN: 26.02 (+0.33), IAU: 11.89 (+0.06), UDN: 22.76 (+0.03), PZA: 25.34 (-0.13), AGOL: 121.01 (-0.19), FORX: 44.02 (+0.09), DWTI: 95.90 (-7.40), USL: 26.81 (+0.40)
Contagion And Confidence
Douglas Tengdin - Seeking Alpha - Tue Dec 09, 11:49AM CST
Whatever happened to the muni meltdown? Four years ago there was mounting hysteria regarding municipal finance. Jefferson County, Alabama; Harrisburg, Pennsylvania; and Stockton, California—places with hundreds of thousands of...
HYMB: 57.89 (-0.11), MLN: 19.84 (-0.04), HYD: 30.94 (-0.10), SHM: 24.37 (+0.01), MUB: 109.95 (-0.13), SHYD: 25.58 (-0.11), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), SMB: 17.65 (unch), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01), SUB: 105.96 (-0.16), RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), PZA: 25.34 (-0.13), SMMU: 50.37 (-0.02)
3 Reasons Why Municipal Bonds May Offer More Than Just Tax-Exempt Income
Invesco US - Seeking Alpha - Sat Dec 06, 9:57AM CST
By Stephanie Larosiliere Tax-exempt income historically has been the main reason why investors buy municipal bonds. As a result of newer tax laws, including several provisions that expired at the end of 2013, tax bills for high-income earners have...
RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
The 1970s Are Not A Good Proxy For A Bond Bear Market
Cullen Roche - Seeking Alpha - Thu Nov 27, 6:27AM CST
A reader kindly forwarded me this interview from Tony Robbins in which he defends his "All Weather" portfolio against some of the criticism laid out against it. Several people , myself included, have criticized the recommendation of this...
TAPR: 31.63 (+0.44), RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
The Muni Meltdown That Wasn't
ValueWalk - at Seeking Alpha - Wed Nov 26, 11:25AM CST
By Michael Ide Municipal bonds , or munis, don't get anywhere near as much press as sovereign bonds let alone equities, but when the financial crisis was still fresh in everyone's mind and the opinions of credit agencies were still pretty...
RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
Here's Why The Long Bond Could Be About To Blast Off
Jesse Felder - at Seeking Alpha - Tue Nov 25, 12:41AM CST
I always love hearing people say things like, "interest rates are so low they can't go any lower!" That's the sort of superficial thinking that gets investors into trouble and provides opportunities for those willing to look a bit deeper. ...
TAPR: 31.63 (+0.44), RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01), GOVT: 25.33 (-0.06), PLW: 33.20 (-0.21)
Did Tony Robbins Just Signal The Top In Bonds?
Travis McPherson - at Seeking Alpha - Fri Nov 21, 4:28AM CST
Self-help guru Tony Robbins is out with a new book which offers a slew of financial advice including an "All Weather Portfolio" (NYSE: AWP ). Without delving into too much detail (others have already done this favor for us….),...
RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
Morgan Stanley: Year-end sale coming for munis
Seeking Alpha - at Seeking Alpha - Fri Nov 14, 2:13PM CST
RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
Time To Exit Municipal Bonds
Chad Shoop - Seeking Alpha - Thu Nov 13, 2:24AM CST
When the Fed dropped interest rates to record lows in December 2008, the uncontested trade to make was to short Treasury bills. The idea was simple: The Fed couldn't leave interest rates at zero forever, and when rates begin to rise from near 0%,...
RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
Detroit BK exit plan greenlighted
Seeking Alpha - at Seeking Alpha - Fri Nov 07, 1:25PM CST
RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
Burned By Bonds
Roger McKinney - Seeking Alpha - Thu Nov 06, 10:17AM CST
Austrian economists can get forecasts wrong, occasionally. Many were wrong about inflation when the Fed stuffed its balance sheet with junk bonds. Inflation has remained asleep except in asset markets. That wrong forecast gave some of us a jaundiced...
IBND: 32.80 (-0.01), SUBD: 25.95 (-0.10), RVNU: 26.11 (+0.06), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), TFI: 24.12 (-0.02), PZA: 25.34 (-0.13), PICB: 27.60 (+0.01), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01)
What Plunging Oil Prices Mean For Your Income Investments
David Eifrig Jr. - Seeking Alpha - Wed Nov 05, 3:05PM CST
Inflation wasn't a worry last month... and it's even less of a worry this month. This is great for you as an income investor. It means some of world's biggest, safest yields are still available to you, if you buy now. Before I tell you where to find...
DVY: 79.57 (-0.29), SINF: 47.80 (unch), MUB: 109.95 (-0.13), XMPT: 26.55 (-0.02), DLN: 75.28 (+0.27), DHS: 62.61 (+0.04), TFI: 24.12 (-0.02), SCHD: 40.69 (+0.15), DTD: 75.94 (+0.21), FMB: 51.97 (-0.03), PVI: 24.94 (-0.01), RINF: 30.25 (+0.05), SDYL: 54.84 (unch), FVD: 24.33 (-0.01), FINF: 42.47 (-0.64), RVNU: 26.11 (+0.06), FDL: 24.41 (-0.01), VRD: 29.81 (-0.02), PRB: 24.60 (+0.07), INFL: 39.28 (+0.47), UINF: 27.79 (+0.01), SDOG: 38.84 (+0.10), PZA: 25.34 (-0.13), DVYL: 50.31 (-0.42), DEFL: 58.00 (unch)