Muni SMA Strategies
Municipal Bonds: Local Impact
Company News
Ron Bernardi quoted in InvestmentNews - July 26, 2018
Ronald Bernardi Speaks On New Transparency Regulation - May 15, 2018
Bernardi submits letter to the U.S. Securities and Exchange Commission - September 12, 2017
Ronald Bernardi Speaks On New Transparency Regulation - May 15, 2018
Bernardi submits letter to the U.S. Securities and Exchange Commission - September 12, 2017
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Market Commentaries
Happy New Year and Thank You
We wish everyone a happy New Year. October 1st marked the first day of our 35th year at Bernardi Securities. In the fall of 1984 my father, Ed Bernardi…
The Yield Curve: Where we have been and..
The U.S. economy is firing on all cylinders right now. Small business confidence has reached all-time highs, jobless claims are near 49 year lows, while household net worth continues to climb into record territory. Federal Reserve Bank of New York President, John Williams, recently noted the economy is “about as good as it gets.” This growth spurt appears in what is now the second longest expansion cycle in history (111 months)……..
The Accumulation of Debt
Since the financial crisis, municipal bonded debt outstanding has increased at a snail’s pace of 0.51% per year.[1] With corporate debt growing at an annual pace of 5.33% and Treasuries at 10.18%, it appears the average municipal government has demonstrated relative fiscal restraint. In the 7 years leading up the 2008-2009 financial crisis, municipal debt grew at an average annual pace of…