"I like municipal bonds, which is a controversial call, I'm sure," Suni Harford of Citigroup says.» Read More
DETROIT, Dec 3- A federal judge on Tuesday formally declared Detroit bankrupt, a landmark ruling that clears the way for potentially sweeping cuts to city worker pensions and retirement benefits and for steep and possibly precedent-setting losses to the cash-strapped city's bond holders.
Rating downgrades of municipal bonds will outpace upgrades in 2014, according to Fitch Rating's outlook for next year.
John Miller of Nuveen Asset Management explains how Detroit's bankruptcy is likely to affect bondholders.
CNBC's Scott Cohn has the latest details on today's ruling that the Motor City can file for Chapter 9 bankruptcy protection and the slew of lawsuits that are sure to follow.
SPRINGFIELD, Illinois, Dec 3- Unions representing public employees in Illinois blasted a bill to reform the state's woefully underfunded pension system on Tuesday and said they would take legal action if the bill is passed by the legislature. Montgomery said the bill is "blatantly unconstitutional" and predicted it would be tossed out by Illinois courts.
CNBC's Rick Santelli and Alexandra Lebenthal, Lebenthal and Company, share the impact bankruptcy has on municipal bonds in your city or state.
CHICAGO, Dec 2- Illinois will sell $350 million of bonds on Dec. 12, just over a week after the state legislature is expected to vote on a bill to rein in the state's huge public pension costs, the state announced on Monday.
Rick Rieder, BlackRock CIO of fundamental fixed income portfolios, discusses his market outlook, the taper and what it means for fixed income.
WASHINGTON, Nov 27- Sales of U.S. municipal bonds shrank to $23.16 billion this month, as debt refundings dropped sharply from a year ago, according to preliminary Thomson Reuters data released on Wednesday.
CNBC's Rick Santelli speaks with Matt Fabian, Municipal Market Advisors, about the narrowing spread between the muni market and Treasuries.
Bloomberg reports Toronto must pay extra interest to the bond market in light of Mayor Rob Ford's continued antics and admissions.
Jeff Cox, CNBC.com finance editor, and Alexandra Lebenthal, Lebenthal & co-president and CEO, discuss the recent concerns surrounding municipal bonds and if a bond crises is looming.
CNBC's Scott Cohn reports on allegations of wide spread fraud in Miami are raising doubt about the safety of munis.
Miami is bouncing back from its foreclosure crisis, but CNBC's Scott Cohn reports the city is at the center of a 4-year SEC crackdown on municipal bonds. With the former budget director and city already being sued, the SEC is also looking into the Miami Marlins baseball stadium, which was mostly paid for by tax dollars.
The SEC has sued Miami and its former budget director for fraudulent disclosures, which they deny, reports CNBC's Scott Cohn.
NEW YORK, Nov 20- Investors in New York City's debt have had it good. He also has to cut a deal with city unions who are demanding up to $8 billion in retroactive pay increases as part of a new contracts that outgoing Mayor Michael Bloomberg has left for his successor.
NEW YORK, Nov 19- A U.S. appeals court on Tuesday questioned the convictions of three former banking executives at a unit of General Electric Co for being involved in a conspiracy to rig bids for contracts to invest municipal bond proceeds.
CNBC's Scot Wapner and Anthony Scaramucci, SkyBridge Capital, discuss why hedge funds like munis. Scaramucci predicts a lot more muni bond hedge funds will crop up.
Nov 14- Fitch Ratings said on Thursday it may soon strip heavily indebted Puerto Rico of its investment grade credit rating, threatening to tag the U.S. territory as the largest municipal bond issuer to date to tumble into junk bond territory.
Meredith Whitney's new hedge fund strategy echoes her controversial—and so far incorrect—2010 call about an impending wave of municipal bond defaults.