• Blog

    Muni Nation

    October 16, 2014

    Reading the Spreads

    by Jim Colby, Portfolio Manager

    As I have noted in earlier posts the performance of the municipal asset class has been better than anticipated thus far this year. In prior posts I have outlined some of the fundamentals leading to these results and I have also pointed to the relationship between muni high y...

     Read more
    Muni Nation

    October 01, 2014

    Crosscurrents May Benefit Municipals

    by Jim Colby, Portfolio Manager

    At the risk of sounding like a bulge bracket drum beater, recent events, including the resignation of Bill Gross from PIMCO, beg for some clarity in so much as municipals have generally continued to generate respectable returns so far this year...

     Read more
    Muni Nation

    September 15, 2014

    Hot Fun in the Summer

    by Jim Colby, Portfolio Manager

    The evidence that the muni market was open for business in August is shown in the numbers below. According to Municipal Market Advisors (MMA) data in the long end of the curve investment grade muni yields fell by 27 basis points (bps) from the end of July to the end of Augus...

     Read more
    Muni Nation

    September 10, 2014

    Back To School

    by Jim Colby, Portfolio Manager

    Michael Zezas, Municipal Strategist at Morgan Stanley and guest contributor to MUNI NATION, "schools" us with his views on the condition as well as challenges facing the higher education sector.

     Read more
    Muni Nation

    August 19, 2014

    My View From The Eighth Month

    by Jim Colby, Portfolio Manager

    I begin this commentary with the fundamentals. Performance for municipal bonds since the start of 2014 has been strong thus far. Year-to-date (YTD) municipals have returned 6.18% as measured by the Barclays Municipal Bond Index and 8.20% for the Barclays High Yield Municipal...

     Read more