“The price of light is less than the cost of darkness.”
The first in a series of portfolio construction pieces Andres Capital Management published (July 14t ) a broad overview article titled “Fixed Income Portfolio Construction: How it Should Be Accomplished”
We present a second article in the series specific to Municipal Portfolio construction. The execution of our approach is supported by decades of experience from managing Merrill’s Municipal Bond Department…
Where have all the bonds gone?
Despite the low interest rate environment, State and Local governments are reluctant to borrow for new money purposes.
Revenue flows into their coffers are, at best growing anemically, and most are grappling with pension fund liability issues.
Municipalities, faced with a broad array of spending pressures have opted to maintain budgetary discipline and…
This was the Bond Buyer’s headline story on Feb.28, as reported by Aaron Weitzman. My initial reaction was “Wow, that’s a surprise” but then I figured I’d look into it a little further to see if, in fact, there’s anything to be worried about.
First, there was a $10 billion dollar drop in refundings when compared to last year,…