The Municipal Bonds Channel

The Benefits of Active Municipal Bond Management

Robert DiMella is an executive managing director and co-head of MacKay Municipal Managers team, overseeing approximately $20 billion in municipal bond assets. In this interview, he discusses the opportunities for muni bond investors and the outlook for the coming year.

Puerto Rico's Title III Bankruptcy: Initial Views and Expectations

In many ways the filings may mark “the end of the beginning” (as Churchill once said) of this chapter for Puerto Rico.

USAA’s Unique Strategy for the Advisor Market

Keith Sloane serves as head of third-party distribution and Steve Fry is director of analyst relations at USAA Investments. I spoke with them about their strategy for serving advisors and the 60 million families with connections to the U.S. military, which has been USAA’s traditional focus.

Vive La Rally!

A review of last month’s market-moving events across countries and asset classes.

Healthcare Reform: Healthy for Munis?

It’s hard to say how healthcare reform will affect the broad municipal bond market. But any new law with the potential to cause millions to lose insurance would be a bitter pill for hospitals. Investors should tread carefully.

Municipal Bonds

Morningstar analyst Emory Zink says demand for municipal bonds has been strong so far in 2017.

The Case of the Missing U.S. Stocks

In the last 20 years, the U.S. stock market has undergone an alarming change that too few people are aware of or talking about. Between 1996 and 2016, the number of listed companies fell by half, from 7,300 to 3,600, according to a recent report by Credit Suisse. This occurred despite the U.S. economy growing nearly 60 percent over the same period.

The Latest Analysis on Trump’s Tax Proposals and the Muni Market

Municipal bonds have performed exceptionally well this year, but aspects of Trump’s proposed tax policies threaten to disrupt segments of that market. Here is the latest news and analysis on the likely impact on the municipal bond market.

How Trump’s Tax Plan Helps Income Investors

As we wait for details on the new tax plan proposed by President Trump and the impact it will have on investors, let’s review some current news for income-oriented investors.

2017 Q1 Review

Spring is my favorite time of year here in Washington, DC. The weather begins to warm (bringing pleasant memories of spring and summer months long passed), plants and flowers return (especially the cherry blossoms), the grill is awakened from its winter hibernation, baseball begins, and Warren Buffet’s annual letter to Berkshire Hathaway shareholders arrives in the mail.

On My Radar: Rick Barry and The Wisdom of Limiting Losses

I enjoy reading 720 Global’s research blog. Quick, crisp and to the point. The message in their most recent piece is about human behavioral tendencies and ego. Ultimately, it’s about how to weave behavior and ego into our investment thinking.

On My Radar: Handle with Extreme Care

“As I was waiting to be introduced, I got the latest headline from the North Korean government saying ‘a super preemptive strike will reduce the United States to ashes.’ So we have that to look forward to.” Ian Bremmer said as he began his presentation yesterday afternoon at the iShares Multi-Asset Summit in New York City."

Angst in America, Part 5: The Crisis We Can’t Muddle Through

There is one problem that is very definitely coming our way that I really don’t think we can Muddle Through and where even the middle-of-the-road scenarios are terrible, and that’s the public pension crisis. I really see no way it can end well. It’s going to hurt just about everyone.

The Case for Listed Infrastructure: Strengthening the Foundation for the Global Economy

The sorry state of US infrastructure was a major talking point during the 2016 US presidential election, and was seen as one of the few areas that could garner bipartisan political support. But certainly, the need for infrastructure is a global issue that can offer a bridge to economic growth, particularly in emerging markets. Here, the Franklin Real Asset Advisors team builds a case for investing in infrastructure-related securities

The Reserve, Part II The US Dollar: Still the Cleanest Dirty Shirt?

Is the dollar losing its grip on its status as the world’s reserve currency?