This month saw more of news about financial market volatility. Tax day has come and past. The Month’s municipal bond news included:
- 8/29/2012: Texas recently sold Municipal Bonds at some of the lowest rates they have ever seen. Clearly there continues to be high demand for Munis. One year at 0.225%.
- 8/21/2012: Warren Buffet is terminating default protection for municipal debt. This may signal that he believes the future of muni bonds may not be rosey.
- 8/7/2012: Peter Hayes with Blackrock issued a report on municipal bonds and blamed states for having a role in hurting local municipalities by cutting aid and passing on more costs.
- 8/7/2012: Richard Larkin with HJ Sims reported that municipality bankruptcy is dependent on fiscial measures as well as relationships between states, cities, school districts, and counties. If a state takes an active role, it can help avert problems.