Latest News on Municipal Bonds

Hungary's muni-bond tax: haircut?
Financial Times (registration) (blog)
It also raises the question of “selective default” – a charge the economy ministry swiftly countered, saying the transfer of the debt and the special taxes on the loans are legally separate issues. Really? Peter Felcsuti, former chief executive of ...

Yes ... but right now, you might want to reduce your exposure
Investorplace.com
The city declared last week that it will be unable to make payments on a portion of its debt, and has asked bond holders to be repaid less than 10 cents on the dollar. While defaults on muni bonds are rare, there have been several high-profile ...

Assessing Muni Bond ETF Risks
Seeking Alpha
Their restructuring proposal has asked bond holders to be repaid less than 10 cents on the dollar. While defaults on muni bonds are rare, there have been several high profile instances of insolvent municipalities or debt restructuring demands over the ...

Does Detroit Recovery Plan Threaten Muni Market?
Fox Business
This is a big default it's one of the biggest -- might be the biggest default ever. In -- municipal bond market do defaulting on GO box general obligation bonds. Somewhat of a precedent if you're Muni bond holder you think the general obligation is the ...
Graphics Test Post - Do Not PublishBusinessweek

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Yahoo!7 News
Rhode Island on track to make payment on 38 Studios bonds
Yahoo!7 News
Worried their fellow lawmakers will abandon the bonds, Democratic leaders in the Senate called a special caucus earlier on Tuesday evening, where Licht and State Deputy Treasurer Mark Dingley warned that the municipal bond market would penalize Rhode ...
New $8.2B RI budget plan pays 38 Studios debtDanbury News Times

all 62 news articles »Google News

Gone Are the Days When Municipal Bonds Were Safe
Wall Street Sector Selector
... announced that Detroit will not make a $39.7-million payment on unsecured municipal bonds worth $2.0 billion. This makes Detroit the most populated city to default on its debt, after Cleveland, since 1978. ... I have been harping on about the ...
Muni market seen more interested in FOMC than DetroitThomson Reuters News & Insight
Detroit default, restructuring plan break new ground -Moody'sMSN Money
Detroit Offers Creditors Pennies on the DollarBudget & Tax News
Reuters Blogs (blog)
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Economic Times
Muni market seen more interested in FOMC than Detroit
Thomson Reuters News & Insight
SAN FRANCISCO (Reuters) - The $3.7 trillion U.S. municipal market looked beyond Detroit's default on some of its debt payments on Monday and instead remained focused on any signals as to how the Federal Reserve may scale back its stimulus measures.
UPDATE 3-Detroit default, restructuring plan break new ground -Moody'sReuters
Detroit takes aim at its pensionersReuters Blogs (blog)
Detroit's Restructuring 'Unconventional and Precedent-Setting'Barron's (blog)

all 35 news articles »

Take Five: John Loffredo on how to play the Detroit muni mess
InvestmentNews
Detroit officially entered default status on Monday when it failed to make a $39.7 million payment on debt issued to fund pensions. But even as Michigan's largest city moves a step closer to bankruptcy, there are still opportunities to invest in ...

Google News

UPDATE 3-Detroit default, restructuring plan break new ground -Moody's
Reuters
June 17 (Reuters) - Detroit's default and debt restructuring plan are precedent-setting in the U.S. municipal market, Moody's Investors Service said on Monday, because the city is looking to bondholders, as well as labor unions and pensioners, to share ...

Why Target Maturity ETFs Deserve More Attention
ETF Daily News
Thus, investors lose in nominal terms only if the fund is sold before maturity in a rising rate environment, or there is widespread default on the underlying bonds. Also, because the ... Municipal bonds. iShares has a long list of issues for municipal ...

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BET
Detroit Default Shines A Light on Bond Insurers
Bond Buyer
CHICAGO – Detroit's threat to default on up to $2 billion of bond debt will shine a light on a beleaguered sector of the municipal market -- monoline bond insurers that wrap nearly all the city's bonds. “This is an important opportunity for bond ...
Detroit takes aim at its pensionersReuters Blogs (blog)

all 23 news articles »

How Detroit's recovery plan could threaten the US$3.7-trillion municipal market
Financial Post
... Digg · FarkIt · StumbleUpon. Emergency Manager Kevyn Orr's plan to suspend payments on US$2-billion of Detroit's debt threatens a basic tenet of the US$3.7-trillion municipal market: that states and cities will raise taxes as high as needed to ...

Detroit takes aim at its pensioners
Reuters Blogs (blog)
But the second group — Detroit's municipal retirees — had much less choice about taking on their unsecured exposure to the city's finances. Looking at the straits Detroit is in, the bond default makes sense. But it's not being driven by stratospheric ...

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Dem-Controlled Detroit Defaults
Patriot Post
Rick Snyder, announced that the city intends to default on approximately $2.5 billion in unsecured debt. That default is detailed in a 128-page restructuring report aimed at preventing the largest municipal bankruptcy in the nation's history. "We have ...

Democrat Controlled Detroit Defaults
Right Side News
Rick Snyder, announced that the city intends to default on approximately $2.5 billion in unsecured debt. That default is detailed in a 128-page restructuring report aimed at preventing the largest municipal bankruptcy in the nation's history. “We have ...

Detroit Recovery Plan Threatens Underpinnings of Muni Market
Businessweek
Emergency Manager Kevyn Orr's plan to suspend payments on $2 billion of Detroit's debt threatens a basic tenet of the $3.7 trillion municipal market: that states and cities will raise taxes as high as needed to avoid default. Orr, appointed by ...

Detroit Recovery Plan Threatens Muni-Market Underpinnings
Bloomberg
Emergency Manager Kevyn Orr's plan to suspend payments on $2 billion of Detroit's debt threatens a basic tenet of the $3.7 trillion municipal market: that states and cities will raise taxes as high as needed to avoid default. Orr, appointed by ...

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Detroit Bankruptcy Possible, City Says It Will Stop Paying Some Debts To ...
Huffington Post
DETROIT, June 14 (Reuters) - Detroit defaulted on some debt on Friday and proposed that creditors take a drastic cut in the money they are owed by the "insolvent" city in order to avoid the largest municipal bankruptcy filing in U.S. history. In a ...

City of Detroit to default on billions of dollars of debt
Big News Network.com
One of the disturbing aspects of the mounting debt default is that $6 billion of the $11 billion unsecured debt comprises retiree benefits for city workers that have retired or are yet to retire, many of whom have already taken benefit and wage cuts to ...

Google News

State-owned resort in Cambridge has dipped into reserve funds for several ...
Baltimore Sun
"No issuer, MEDCO included, wants to have a reputation of having bonds default," said W. Bartley Hildreth, a professor at Georgia State University and a director of the Municipal Securities Rulemaking Board, which oversees the municipal securities market.

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