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Due to this, rainy-day funds have hit a record high in 38 states last fiscal year, Schwab said, citing Pew Charitable Trusts. If a recession does start, municipal revenues typically decline later ...
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Muni bonds are a more attractive option for investors in high-tax states and cities, so investors in those areas should be sure to calculate the tax-equivalent yield on potential muni investments.
A municipal bond, commonly known as a muni, is a bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal bonds is often, but not always, exempt from federal and state income taxation.
Additionally, its mutual model generated capital growth to support growth in the insured portfolio, thus eliminating the need to “go public” to raise capital or to assume risks beyond the core municipal market; and it cited the benefit of collateralized first-loss reinsurance protection for losses up to the first 15% of par on each policy ...
Muni arb is a relative value strategy that seizes upon an inefficiency that is related to government tax policy; interest on municipal bonds is exempt from federal income tax. [1] [2] Because the source of this arbitrage is artificially imposed by government regulation, it has persisted (i.e., it has not been "arbed away") for decades. [3]
Late last year, outspoken banking analyst Meredith Whitney rattled the staid world of municipal bonds with a bold prediction on 60 Minutes that hundreds of billions of dollars in munis would soon ...
Nuveen was founded in Chicago, Illinois, in 1898 and originally focused solely on municipal bond underwriting and investments. While its investments today span nearly all major areas of capital markets, it is known for its size and influence in domestic fixed income generally, tax advantaged municipal bonds in particular and private real estate.