We develop an intensity-based model of municipal yields, making simultaneous use of the CDS premiums of the insurers and both insured and uninsured municipal bond transactions. We estimate the model individually for 61 municipal issuers by exploiting the dramatic decline in credit quality of the ...
Reports on the reduction in municipal bond yields between three and five basis points in the U.S. on October 25, 2002. Two-day retail order period on 444 million dollars of New York City Transitional Finance Authority future-tax-secured bonds; Decline in durable goods orders; Other retail or...
Marlowe (2015) used the Nelson–Siegel model to derive a credit risk free municipal bond yield curve using the interdealer trades of pre-refunded bonds. In Diebold and Li (2006), the term structure of government bond yields is modeled using time varying parameters of the Nelson–Siegel model...
So, when considering munis, investors should compare the yields of taxable investment-grade and government bonds by using thetax-equivalent-yield formula. Tax-equivalent yield (TEY) is the yield that a taxable bond must have to equal or exceed the tax-adjusted yield of a municipal bond. Tax ...
Domestic buyers attracted by offshore bonds’ high yields and belief in implicit guarantee by Beijing September 22 2023 Chinese business & finance Chinese investors rush into local government bonds Central government support for local financing vehicles helped lift debt sales in August to near-record ...
Municipal bond yields rose for the third consecutive session on June 18, 2003 as Treasuries plunged and several hefty deals totaling more than $1.5 billion... - 《Bond Buyer》 被引量: 0发表: 2003年 Muni Yields Rise 1 to 2 Basis Points; Retail Period Opened for Conn. GOs. This article ...
Muni investing is popular because it has the potential to offer higher yields than similar...Municipal Bonds 101 What Are Build America Bonds? Daniela Pylypczak-WasylyszynJun 24, 2015 In 2009, the United States was suffering a major recession that had bond market investors running...Municipa...
PVI carries little to no interest rate risk. While this makes it a safer investment in periods of high volatility, it also limits yields. The fund's top three holdings are bonds issued by the Geneva, N.Y. Industrial Development Agency; the Emmaus, Pa. General Authority; and the Illinois ...
AAA-rated Bloomberg Evaluation 2-year, 10-year and 30-year municipal yields increased 43, 50 and 32 basis points (bps), respectively. Treasury yields rose by 60, 79 and 66 bp on 2-year, 10-year and 30-year securities, respectively. The S&P Municipal Bond Index posted a return of -...
However, some market observers believe the asset class is currently offering value, particularly with yields as high as they’ve been in a decade. That could open to the door to opportunity with ETFs such as theSPDRNuveen Municipal BondESGETF(MBNE). ...