Municipal Bond News

October 2012 Municipal Bond and Tax Free Mutual Funds News

municipal bonds

This month saw more of news about financial market volatility. Tax day has come and past. The Month’s municipal bond news included:

  • 10/18/2012 No Wave of Bankruptcies – Moody’s placed 30 California cities’ Municipal Bonds on credit watch for downgrades. Investors should probably avoid these areas:
  1. Azusa
  2. Berkeley
  3. Colma
  4. Danville
  5. Downey
  6. Fresno
  7. Glendale
  8. Huntington Beach
  9. Inglewood
  10. Long Beach
  11. Los Gatos
  12. Martinez
  13. Monterey
  14. Oakland
  15. Oceanside
  16. Palmdale
  17. Petaluma
  18. Rancho Mirage
  19. Redondo Beach
  20. Sacramento
  21. San Leandro
  22. Santa Ana
  23. Santa Barbara
  24. Santa Clara
  25. Santa Maria
  26. Santa Monica
  27. Santa Rosa
  28. Sunnyvale
  29. Torrance
  30. Woodland
  • Moody’s also placed General Obligation Muni Bonds issued by San Francisco and Los Angeles on review for possible upgrades!
  • Keep in mind that Moody’s only rates 95 of the 482 cities in California. Recently Atwater declared a fiscal emergency and may file for bankruptcy.

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