Tag Archives: Muni Market

Outrage Grows Over Public Sector Unions – NY Times

We’ve posted how underfunded state and local pensions are going to be a huge economic and political issue in 2011.   Go no further than the New Year’s Day NY Times article, Across the nation, a rising irritation with public … Continue reading

Posted in Muni Bonds, Policy, Politics, Sovereign Risk | Tagged , , , | 5 Comments

George Will on Coming War Over Public Pensions

Be sure to catch George Will’s Washington Post piece on the coming battle in the new Congress over state and local public pensions.   In early December, we posted the report by James Pethokoukis of a secret Republican plan to push … Continue reading

Posted in Black Swan Watch, Bonds, Budget Deficit, Fiscal Policy, Muni Bonds, Muni Market, Policy, Politics | Tagged , , | 1 Comment

GOP plan: “Push states to bankruptcy and smash unions”

In his Reuters blog,  James Pethokoukis states the biggest political battle in Washington next year will be the Congressional Republicans plan to:  a) avoid a federal bailout of financially troubled states; and b) cripple employee unions by pushing fiscally troubled … Continue reading

Posted in Black Swan Watch, Charts, Muni Market | Tagged , , , , | 1 Comment

Muni Market Rebounds, California Prices RANs

After widening 70 bps, long-term California munis rebounded today, tightening as much as 6-10 bps.  California priced $10 BN of Revenue Anticaption Notes (RANs)  paying higher than their initial target price.  Notes from the $2.25 billion Series A-1 mature in … Continue reading

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Muni Meltdown: All Eyes on California

As the world focuses on Ireland, the hammering of the U.S. muni market continued today even as the treasury bond market rallied sharply.  As the case with any sell-off, it is difficult to discern fundamentally why the market is in … Continue reading

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