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Notes to myself, possibly of interest to others.
-- Bill Northlich

Tuesday, November 16, 2010

Rosie: Don't worry about Muni's

The sharp selloff in the municipal bond market is an over-reaction to default risks — there is a lot of supply coming onto the market, led by California (which has a $25 billion fiscal gap that needs to be closed) and the looming end to the BABs (Build America Bonds). Meanwhile, the appetite for fixed-income product remains healthy, which is how Corporate America managed to float a record (for November) $41 billion of newly- minted investment-grade debt over the past two weeks

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