Browsing Tag

California

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.
Individual Bond Municipal Bond News

October 2011 Municipal Bond and Tax Free Mutual Funds News – Harrisburg Bankruptcy

municipal bonds

This month saw more of news about financial market volatility.  The Month’s municipal bond news included:

  • 10/12: Harrisburg Files for Bankruptcy on Overdue Incinerator Debt – Businessweek. – They finally decided to declare bankruptcy in Harrisburg, Pennsylvania. This is the biggest city to file bankruptcy since Vallejo, California. The municipal bond market had priced in bankruptcy for their bonds anyway. An incinerator’s debt  force them down this road.
  • 10/19: States Attract Buyers for Muni-Bond Issues – WSJ.com. – California got relatively aggressive pricing on their 10 year muni bonds at 3.51%, while Pennsylvania got 2.63% on their 10 year offering.
  • 10/28: State Tax Haul Jumps 10.8% – WSJ.com. – State tax revenue jumped 10.8% in the latest quarter as compared to a year ago. This means that states are feeling better financially. Cities on the other hand are having more problems, as property tax collections continue to fall. Keep these facts in mind when examining individual municipal bonds.
Municipal Bond News

July 1 – 8, 2011 Municipal Bond and Tax Free Mutual Funds News

municipal bonds

This week saw more of news about the US government’s Battle with the slowing economy. This may be a good time to adjust your asset allocation. The Week’s municipal bond news included:


Individual Bond Municipal Bond News

April 22 – April 29, 2011 Municipal Bond and Tax Free Mutual Funds News

municipal bonds

This week (April 22, 2011 – April 29, 2011) saw more of news about the US government’s deficit battles. Tax-free Mutual funds saw continued outflows. Tax-free money market funds saw major outflows, undoubtedly for people to pay their taxes. The Weeks municipal bond news included:

  • Ignore the hype about municipal bond defaults reminds people that default rate generalizations are misleading. (US News)
  • O’Hare airport has a $1 billion municipal bond offerings coming up, one of the biggest in a while. They are moving up the offering because they believe that conditions in the municipal bond market have improved! (WSJ)
  • A list of the 10 top municipal bond issuers with the widest credit spreads a.k.a. most financially challenged. Topping the list are Puerto Rico, Illinois, and California.(Reuters)