CEFs: Spelling Discount Opportunity For Bond Investors


Though ETFs have become a bond investor portfolio staple over the past decade, few tend to be familiar with a similar, yet decidedly more complicated vehicle known as the closed-end fund, or CEF for short. While closed-end funds, like ETFs, provide … [Read more...]

How To Use Bond Market Liquidity And Confidence Measures


In trying to understand some of the things going on in the fixed-income market I look at several different statistical calculations that sometimes give me a clue as to what might be taking place and what pressures…or lack of pressures exist. Two … [Read more...]

Debt Ceiling Prepping – It’s Time to Consider Doing These 2 Things


My base case for the debt ceiling drama is still that a debt default will be avoided. This includes defaulting on either interest payments or principal payments (the bigger risk is principal payments). With that said, however, the inability of those … [Read more...]

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...]