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    Muni Nation

    March 14, 2013

    Cave Idus Martias – Municipals

    by Jim Colby, Portfolio Manager

    Beware the Ides of March Yes yes this Shakespearean reference is a little over the top but it has been readily observed by many authors that the month of March has often been a cruel one for participants in the municipal bond market. In this year MMXIII it just so happens th...

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    Muni Nation

    March 07, 2013

    Got Credit? Part 2

    by Jim Colby, Portfolio Manager

    As I attempted in the first installment I offer a high level overview to generalize my view on the credit quality of a vast expanse of states cities and local issuers of municipal bonds. I believe ratings do matter because not only do they represent a measure of differentiat...

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    Muni Nation

    February 14, 2013

    Migratory Patterns

    by Jim Colby, Portfolio Manager

    Let s give credit where credit is due: recently Forbes published an article that to some might seem like the kind of article that sits on the shelf until there is a slow news day and the editor is looking for a filler piece. In fact this article raises a number of important ...

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    Muni Nation

    February 05, 2013

    No Good Deed Goes Unpunished

    by Jim Colby, Portfolio Manager

    Looming under the somewhat Byzantine headline name Sequestration are automatic cuts to government spending that may include planned reimbursements to state and local issuers of Build America Bonds (BABs). BABs are taxable municipal bonds authorized as a stimulus program unde...

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    Muni Nation

    January 31, 2013

    January Rebound

    by Jim Colby, Portfolio Manager

    With the political ripples of the cliff and inauguration finally reaching the edge of the pond the markets appear to be once again fully engaged in the dissection of domestic economic releases earnings and European monetary drama. The elements that I believe sparked a year-e...

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