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Finra gets arbitration process back on track in Puerto Rico
After several months of deliberations, Finra has expanded its pool of arbitrators and is ready to move forward with the hundreds of complaints related to collapses in Puerto Rico bond funds. That doesn't necessarily mean smooth sailing.
SEC turns gaze to municipals
Scrutiny is welcome as muni bonds have long been a choice vehicle for tax-free income.
UBS, Merrill push to keep bond fund hearings in Puerto Rico
In confidential meeting, firms' attorneys oppose allowing arbitration cases to be heard in Southeast venues.
Finra examining trading in new Puerto Rico Bonds
Earlier this month, Puerto Rico sold $3.5 billion in bonds but since the sale, some of the bonds have changed hands at less than the minimum amount for some investors. Finra is taking a look.
New Detroit bankruptcy plan in the hands of creditors
A new proposed plan to end Detroit's $18 billion bankruptcy would pay bondholders 20 cents on the dollar and give police and firefighters higher pension payouts than other city employees. Now disagreement from both bond insurers and unions is expected to usher in a new, more contentious phase of ...
Puerto Rico cuts push OppenheimerFunds' junk holdings above limit
Fund company says while there's “room for improvement,” commonwealth "moving in the right direction."
Puerto Rico downgrade a buying opportunity for some investors
S&P move was no surprise, but some managers see longer-term strains and are staying away.
S&P cuts Puerto Rico credit to junk
Cites inability to raise funds in capital markets, keeps on watch with negative implications.
Muni bond contrarian stands firm
As we wrote in InvestmentNews last September (Puerto Rico muni bonds: A contrarian view), we continue to think that the government of Puerto Rico has the ability and willingness to honor its debt service obligations to bondholders, and at current prices, general-obligation and various agency debt
SEC eases, clarifies muni adviser registration requirements for RIAs, BDs
Those who provide local governments with advice on derivatives won't have to register.
Bob Doll puts his money where his mouth is
Nuveen's chief equity strategist Bob Doll isn't just making a list of 10 predictions. He's created an investable portfolio of stocks based on those predictions. Jeff Benjamin has the details.
UBS Puerto Rico closed-end muni investors losing billions
UBS Puerto Rico closed-end muni bond fund investors are losing billions; new research pegs losses at $1.66 billion over the first nine months of 2013.
2013: A tale of two muni markets
Charles Dickens' famous first line of “A Tale of Two Cities” — “It was the best of times, it was the worst of times” — could have referred to investors' views of U.S. cities and the municipal bond market last year.
Gridlock is good for municipal bond investors
For the $3.7 trillion municipal bond market, Washington's political divide may be a good thing. This year's congressional elections weaken chances of a far-reaching tax-code overhaul that would roll back the break for buyers of state and local-government debt, said analysts including Morgan Stanley
The irrational fear of muni bond defaults
This year has been full of an exhausting parade of headlines related to defaults and potential defaults in the municipal market. While some of these headlines are warranted because of the size of the default, very few municipal bond managers were surprised by Detroit or the problems Puerto Rico is
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February 27, 2014