Adventures in Muniland captures the municipal bond market’s transformation from stodgy to dynamic. A concise, comprehensive guide that offers an insider’s view that can bring the readers right up to today’s discussions, and carries the added benefit of providing a clear understanding of what can at times appear to be an opaque marketplace. This book contains Cumberband’s team produced an insightful review for the seasoned professional and a must-read for newcomers and investors.
Contents
The Changing Face of the Municipal Bond Market
A Profile of the Municipal Bond Market
General Obligation Bonds: The Backbone of the Municipal Bond Market
Revenue Bonds: How America Builds Infrastructure
Ratings Agencies: The Shadow Regulators of the Municipal Bond Market
Municipalities in Recession
An Overview of Municipal Bankruptcy
Case Studies of Distressed Local Governments
Headline Risk in the Municipal Bond Market
The Puerto Rico Conundrum
Pension Problems and the Land of Lincoln
The State of Infrastructure Spending
A Tale of Broken Promises: Trouble in the Garden State
Municipal Madness Again - Big Change in Muniland
Moody's Munis and Cousin BABs
The MAGI Returns to Muniland
The Oil Spill and the Municipal Bond Market
Tha Harrisburg Mess
Second Inning
The Spike in Muni Yields
An Opportunity
Muni Defaults
Whitney and Roubini
Policy Madness in Muniland
Infrastructure Plan
A Meredith Redux
One Year Later
Land of Lincoln Follow-up
The Fed & MUnis
Quite a Stretch
Cheap Munis, Not Detroit
Puerto Rico Update
Motor City Finally Hits Bankruptcy
The Good, The Bad, and the Ugly
Muni Bonds in 2013
A Year in Review
More on Puerto Rico Debt
Detroit Update
Puerto Rico Update
Muni Green Shoots
U-Turn
The Cold Shoulder
HQLA & Munis
A Win for Muni Investors
The Muni Supply Spike