The recent wave of panic sweeping across the municipal bond market is creating buying opportunities for professional money managers, according to Josh Gonze, manager of the $4 billion Thornburg Limited Term Municipal Bond Fund Ticker:(LTMIX).
The financial formula in Illinois: Take in $2, spend $3, borrow the difference at exorbitant rates. No wonder Pimco's Bill Gross and other muni bond experts say the state is facing the 'fiscal abyss.'
Withdrawals at fever pitch, highest in two years
Prices dropping amid year-end blitz of offerings; buying individual bonds — not bond funds — the wisest course, say money managers
Yields hit four-month high in face of rising unemployment, dour forecasts; shrinking supply seen in 2011
Issue of 30-year notes a big hit; hiked reward for standing out on the yield curve
Bond king believes predictions of wave of local bankruptcies greatly exaggerated
As lawmakers prepare to shelve the Build America Bonds program, investors should strongly consider purchasing the government paper, according to Peter Coffin, president of Breckinridge Capital Advisors Inc. But he also warns that the program's end will trigger uncertainty — and some near-term volatility — in the municipal bond market.
States not likely to miss payments, but local governments could be risky bets
Analyst reportedly has rated 15 largest states according to financial conditions; only two get passing grades
Pimco's Total Return Fund, the largest mutual fund on the planet, saw its first monthly net withdrawals since 2008. Asset managers say this could be the start of something big.
DoubleLine Capital is launching three fixed-income mutual funds, according to the company's filing with the SEC.
Bank of America Corp. agreed to pay $137 million to settle investigations of its involvement in a conspiracy to rig bids on 88 municipal bond contracts, the U.S. Securities and Exchange Commission and Justice Department said.
High-yielding debt from U.S. states, cities drawing plenty of interest from international investors
Lost in the “noise” of the year-end soothsaying contests are some simple lessons on investing.
More settlements expected, says antitrust chief; 'stay tuned to this channel'
Advisers meeting with clients on year-end strategies may be discussing a fixed income portfolio which sufficiently diversifies credit risk
