• Blog

    Muni Nation

    December 20, 2012

    Santa Claus, Still Coming…

    by Jim Colby, Portfolio Manager

    Month-to-date and really it is over the last eight business days munis have sold off in dramatic fashion (now drama in muniland is far from what is experienced in equities or treasuries). The Barclays Municipal Bond Index is down 1.66% and even the High Yield Index is down 1...

     Read more
    Muni Nation

    December 18, 2012

    A Perfect Storm

    by Jim Colby, Portfolio Manager

    For all the professionals who embraced the strong market performance of municipal bonds year-to-date, I attribute the sudden break in the positive trend to the confluence of the following events leading to what could be called a "muni perfect storm":

     Read more
    Muni Nation

    December 14, 2012

    Year in Review and Outlook

    by Jim Colby, Portfolio Manager

    I believe that 2013 promises to stand in contrast to the linear upward moves for municipal bonds in 2012. There appears to be conflicting expectations about new issue supply so my conservative view is to say that volume has the potential to be /- 10% of that of 2012. Much de...

     Read more
    Muni Nation

    November 29, 2012

    Who’s Afraid Of The Fiscal Cliff?

    by Jim Colby, Portfolio Manager

    The municipal market continues to be well-bid by evidence of continued strong flows into muni funds. I believe we can expect the demand side of the equation to drive the market through yearend.

     Read more
    Muni Nation

    November 20, 2012

    Play Your Cards

    by Jim Colby, Portfolio Manager

    Amid all the questions and uncertainties whirling around Washington in the aftermath of the presidential election the image of higher personal income taxes fiscal cliff or not is coming into sharper focus. In what could become known as the next Great Compromise I believe tax...

     Read more