A glance at some of the financial markets headlines over the past two months will tell you why we’re featuring our second article on municipal bonds within the past two years:

  • Detroit Bankruptcy is Marked by Speed
  • Fed Will Consider Adding Municipal Debt as Quality Asset
  • World Trade Center Tower Rides Muni-Bond Revival
  • Schumer Pushes Looser Restrictions on Munis in Bank Rule
  • Stringer Calls for Green Bonds in New York
  • Why Muni Bonds Aren’t for the Faint of Heart

This is just a sampling of headlines from one publisher (The Wall Street Journal); other publishers offer many more.

Even the UK is getting in on the municipal bonds act as local authorities seek alternative sources of funding with the proposed establishment of a Local Government Collective Agency for the issuance of Local Authority Bonds. Supporters of the Agency contend that the Agency will be able to offer a more attractive rate than the Public Work Loans Board’s rate.

Why Municipal Bonds? Why now? Why again?

Ethel Yamamoto, GFMI credit specialist and professional portfolio manager, is part of the two-instructor team that designed and delivers our Principles of Municipals public two-day program. In this month’s article, she takes a discerning look at today’s public finance market. Following up on our January 2013 article (Unlucky 2013 for the U.S. Municipal Market—Fact or Fiction?), Ethel revisits recent filings by major US cities, as well as investor reaction and subsequent legal interpretations. Did the concerns, rumors, and predictions of 2013 and 2010 come to fruition?!

For a discerning look at today’s public finance market, read GFMI’s 2014 Municipals Update–the Good, the Bad, and the Groundbreaking.

Author

  • Ken Kapner

    Ken Kapner, CEO and President, started Global Financial Markets Institute, Inc. (GFMI) a NASBA certified financial learning and consulting boutique, in 1998. For over two decades, Ken has designed, developed and delivered custom instructor led training courses for a variety of clients including most Federal Government Regulators, Asset Managers, Banks, and Insurance Companies as well as a variety of support functions for these clients. Ken is well-versed in most aspects of the Capital Markets. His specific areas of expertise include derivative products, risk management, foreign exchange, fixed income, structured finance, and portfolio management.

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