Market Commentaries

Municipal Market Update

March 2007

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“We have met the enemy and he is us!”

November 2008

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“Market Fundamentals are Different Today”

June 2008

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“The Bond Insurance Debacle – “A Fine Mess”

February 2008

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“One Year Later – What is Different Today?”

December 2009

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“All Roads Lead to Rome… or Should we say Washington”

May 2009

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Continuing Municipal Bond Market Volatility

December 2010

Volatility in the municipal market was significant during the last quarter and we expect it to continue into the foreseeable future. The fourth quarter of 2010 was brutal period for total return oriented municipal bond investors. The Barclays Capital M …

Municipal Bond Market Volatility

November 2010

Municipal bond prices endured a considerable sell off during the month of November, before showing a rebound leading up to the Thanksgiving holiday. Four factors are key to understanding this volatility:Treasury weakness. Pronounced weakness in the Tre …


October 2010

Municipal bond prices declined in October continuing September’s price slide. Bond yields in the 10 year range increased slightly, approximately 4-5 basis points during the month. Recent elevated bond issuance levels coupled with waning demand should p …


September 2010

Municipal bond prices declined and yields increased during the month as the powerful bond market rally of the last several months subsided. This trend translated, generally, into negative monthly performance for most municipal bond investors. New issue …