• Blog

    Muni Nation

    February 22, 2012

    Clean That Wall

    by Jim Colby, Portfolio Manager

    A particular saying I used to hear around the office of my first job was let s throw it against the wall and see if it sticks comparing the testing of new ideas to the testing of properly cooked spaghetti. I was reminded of this analogy as I read several recent articles with...

     Read more
    Muni Nation

    February 15, 2012

    Pitchers & Catchers

    by Jim Colby, Portfolio Manager

    As I anticipate another season of America s Favorite Pastime I cannot help but feel that the past two months of strong performance for municipals will likely level out into a more traditional pattern much like when reality meets expectations with spring baseball. I think dem...

     Read more
    Muni Nation

    February 08, 2012

    In Perspective

    by Jim Colby, Portfolio Manager

    Returns for municipal bonds YTD in 2012 represents third strongest start to a year since 1990 (2.31% YTD as of 1/31/2012) . Investors are rushing back to municipals as evidenced by strong inflows of 6 billion in January. A combination of factors are boosting investor demand:...

     Read more
    Muni Nation

    February 01, 2012

    Municipal Trifecta

    by Jim Colby, Portfolio Manager

    The continuation of strong cash flows elevating municipal asset levels for investment platforms has led to a resumption of positive performance for virtually all sectors of the muni market in January . The Barclays Capital Municipal Bond Index posted a 2.31% gain for the mon...

     Read more
    Muni Nation

    January 25, 2012

    Nosebleed Prices

    by Jim Colby, Portfolio Manager

    The municipal bond market has been on a seven-week march to all-time low rates (yields) as the chart below shows. Given the voracious appetite that investors have had for munis I would have expected that the natural order would be for the market to take a pause even to back-...

     Read more