Results tagged “Municipal Bonds” from Dealbreaker
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Auction Rate Securities, the Muni Rally and Smith Barney's Best Day Ever
Mar 07, 2008, 11:31am
Posted by John Carney
The crisis in the auction rate securities market continued this week. While some issuers are preparing to refinance auction rate securities that have the highest interest rates, the suddenly turbulent market for muni bonds may leave many investors stuck in...
The Municipal Bond Ratings Debate Hits The New York Times
Mar 03, 2008, 10:50am
Posted by John Carney
The municipal bond ratings debate made the front page of the New York Times this morning, no doubt giving succor to fans of the Eisinger Thesis and its correlative, the Radically Inefficient Markets Hypothesis. By way of background, in the...
Is There A Market Demand For Relative Muni Bond Ratings?
Feb 28, 2008, 9:09am
Posted by John Carney
Felix Salmon is skeptical that there is a market demand for bond ratings the differentiate between various issuers. His skepticism, however, is built on a simplistic image of who invests in bonds. To Salmon, it seems that muni bond investors...
On Munis, Ratings And Contrarianism
Posted in Bond Insurers, Feb 27, 2008, 1:48pm
Posted by John Carney
We get called contrarian often enough that we’re nearly resigned to the label. From our perspective, of course, we’re not contrarians at all. We’re so deficient when it comes to having a decent respect for the opinions of mankind that...
Is Muni Bond Insurance A Racket?
The Portfolio Gang Responds!
Posted in Bond Insurers, Feb 26, 2008, 5:31pm
Posted by John Carney
Although it looks like MBIA is now out of the woods, rival bond insurer Ambac’s fate is still murky. Reports indicate that the ratings agencies are now considering the rescue plan worked out by banks and state insurance regulators. The...
How To Think About Municipal Bond Ratings
And Why The Critics Of Muni Bond Insurance Are Wrong
Posted in Bond Insurers, Feb 25, 2008, 4:46pm
Posted by John Carney
The bond insurers have all rocketed today on the expectation that a bailout from the banks will be announced any time now. But this has hardly tempered the words of their critics. Everyone from Bill Ackman to Warren Buffett has...
