How Will the Affordable Care Act Impact Municipal Bonds?


The Affordable Care Act (ACA), also known as Obamacare, is unlikely to have much impact on the municipal bond market, and the ultimate impact may take years to discern. There are two primary ways the ACA may affect municipal bonds: 1) via direct … [Read more...]

What’s So Scary About Long-Term Bonds?


The way long-term bonds are frequently discussed by the media, some investors might think they are a type of financial-markets disease, to be avoided at all costs. I’ve never quite understood this. While I don’t think a 100% allocation to long-term … [Read more...]

“The Great Experiment” And What It Means To Bond Investors


This is a tough time to be investing in fixed-income securities. The reason for this is that the Federal Reserve has taken the financial markets into places it has never seen before. Thus, everybody is on “new” ground and everyone is just guessing … [Read more...]

Income Investing – Looking Beyond Stocks and Bonds


In the first three parts of my series on income investing, I discussed what exactly income investing is, how common stocks and traditional bonds can play a role in the income investor’s portfolio, and certain things on the macro front that … [Read more...]

Bonds – A Necessary Component of the Income Investor’s Portfolio


In the second part of my series on income investing, I discussed the role that common stocks can play in an income investor’s portfolio. But stocks aren’t the only game in town. Bonds are also an important component of any diversified income-focused … [Read more...]

Why The Recent Drop In Interest Rates May Not Be What You Think


Last Wednesday I finished a three-part series on how one might dissect longer-term bond interest rates to try and understand what the financial markets are trying to tell us about what is going on. These three posts dealt with the real rate of … [Read more...]