• Blog

    Muni Nation

    June 17, 2014

    Green Grass And High Tides

    by Jim Colby, Portfolio Manager

    As we continue to ride the 2014 performance wave in the municipal bond market a colleague suggested that I address one important cause of 2013 s poor performance: defaults. I believe the price decline and outflows from municipal bond mutual funds separate accounts and ETFs w...

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    Muni Nation

    June 10, 2014

    High Level View

    by Jim Colby, Portfolio Manager

    Much of the muni commentary these past several days has focused on what to some may have been the surprising and meaningful performance of the asset class as measured by the Barclays Municipal Bond Index: 5.91% year-to-date (YTD) as of 6/4/14. I believe the primary driver of...

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    Muni Nation

    May 30, 2014

    Reality Check

    by Jim Colby, Portfolio Manager

    Total new municipal bond issuance in the U.S. was 102 billion year-to-date (YTD) ending May 23 2014. Tax-exempt municipal bond issuance was 93 billion during the same period. The difference between the two was taxable municipal bond issuance. Consider overlaying this data me...

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    Muni Nation

    May 16, 2014

    Spotlight On Rhode Island

    by Jim Colby, Portfolio Manager

    Rhode Island. The Ocean State. Little Rhody. It is officially the smallest U.S. state in area but the second most densely populated with a little over one million residents as of a 2012 census estimate. It was also the first of the original 13 colonies to declare independenc...

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    Muni Nation

    May 02, 2014

    Who's Smiling Now?

    by Jim Colby, Portfolio Manager

    The mood and landscape of the municipal bond market at the end of April could not have been more different from the general municipal bond market sentiment of 2013. Those who have paid attention to some of the fundamentals have reason to smile in my opinion. April marked the...

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