How A More Transparent Fed Has Increased Market Volatility


To investors, volatility is not a good thing. To many analysts, volatility is the definition of risk. The volatility of bond prices is the essence of risk to the investor in bonds because it means that one is never sure what price one might be … [Read more...]

Sympathy for the Fed Chairman

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The Fed was also not shy about placing part of the blame for the sluggish economy at the feet of elected officials. The FOMC statement read:  “Fiscal policy is restraining economic growth.” Many market participants and pundits took this as a … [Read more...]

Are You Missing Out On Municipal Bond Market Value?


A lot of people I have talked with recently are suggesting that if an investor is looking for more (after tax) yield these days that it might be a good idea to look at the bonds issued by state and local governments. States, cities, counties … [Read more...]

A Closer Look at Zero-Coupon Bonds

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It has been a long time since I searched the inventory of available zero-coupon bonds. But given the dearth of investment articles on zero-coupon bond opportunities, I thought I’d write a bit about what I discovered when recently searching for … [Read more...]

Muni Bonds: A Case Study of Detroit’s Fiasco


My biggest concern with folks who buy muni bonds is that they don’t do the proper due diligence on a given municipality. It’s very easy to just assume that if a municipality or a city is big enough, there’s simply no chance of default. Given that … [Read more...]